Bankruptcy Case 8

Age: 54

Occupation: Driver

Annual Income: $40,000.00

Reason for Bankruptcy: Unemployment/loss of income

Assets to be surrendered: Nil

Secured Debt: $23,000.00

Unsecured Debt: $79,946.00

Unsecured Debt Breakdown:

Credit Cards $8,240.00

Personal Loans $0.00

Telco $0.00

ATO $71,706.00

 

Summary: Single person who had accumulated a large tax debt that would never of been able to be paid.