Bankruptcy Case 11

Age: 53

 

Occupation: Driver

 

Annual Income: $50,000.00

 

Reason for Bankruptcy: over commitment of credit

 

Assets to be surrendered: Nil

 

Secured Debt: $0.00

 

Unsecured Debt: $57,221.00

 

Unsecured Debt Breakdown:

 

Credit Cards $36,123.00

 

Personal Loans $21,098.00

 

Telco $0.00

 

ATO $0.00

 

 

 

Summary: Person only 10 or so years away from retirement who become over committed and has no real way to pay back all the debt.