Bankruptcy Case 4

Age: 27

Occupation: Consultant

Annual Income: $60,000.00

Reason for Bankruptcy: Excessive use of credit

Assets to be surrendered: Nil

Secured Debt: $0.00

Unsecured Debt: $102,686.00

Unsecured Debt Breakdown: Credit Cards $9,925.00

Personal Loans $92,438.00

Telco $0.00

ATO $0.00

 

Summary: Young person with no way whatsoever to be able to meet debt repayments on current income.