Use this tool to help you find the formal insolvency options you're eligible for if you can't pay your debts.
Time to complete: 3 mins
You will be asked a few questions about:
- Money you owe
- Your income
- Things you own
You will then be shown your main formal options under the Bankruptcy Act 1966.
There is an additional option, a declaration of intention to declare bankruptcy, which provides temporary relief. It may suit you if you need urgent relief to give you time to consider what your next step will be. For more information on this option see Declaration of intention to declare bankruptcy.
If you need help managing your debt, you can also:
- Contact the National Debt Helpline on 1800 007 007 to speak with a free financial counsellor
- Visit the ASIC MoneySmart website for tips and tools to help manage debts
- Seek legal assistance
- Find help in your language