Bankruptcy Case 5

Age: 49

Occupation: Manager

Annual Income: $81,000.00

Reason for Bankruptcy: Business Downturn – Previous self-employment

Assets to be surrendered: Nil

Secured Debt: $27,500.00

Unsecured Debt: $94,321.00

Unsecured Debt Breakdown:

Credit Cards $40,321.00

Personal Loans $0.00

Telco $0.00

ATO $54,056.00

 

Summary: Family person with kids and no way to be able to provide for the family and pay the debt.