Bankruptcy Case 13

Age: 44

 

Occupation: Parking Ranger

 

Annual Income: $57,900.00

 

Reason for Bankruptcy: Domestic discord/relationship breakdown

 

Assets to be surrendered: Nil

 

Secured Debt: $Nil

 

Unsecured Debt: $48,681.00

 

Unsecured Debt Breakdown:

 

Credit Cards $29,762.00

 

Personal Loans $18,919.00

 

Telco $0.00

 

ATO $0.00

 

 

 

Summary: Breakdown of a relationship. Person now paying all the debts but on one income only.

Bankruptcy Case 12

Age: 40

 

Occupation: Paramedic

 

Annual Income: $90,000.00

 

Reason for Bankruptcy: Domestic discord/relationship breakdown

 

Assets to be surrendered: Nil

 

Secured Debt: $6,200.00

 

Unsecured Debt: $30,500.00

 

Unsecured Debt Breakdown:

 

Credit Cards $0.00

 

Personal Loans $30,500.00

 

Telco $0.00

 

ATO $0.00

 

 

 

Summary: Breakdown of a relationship resulted in the persons financial situation deteriorating to the point that bankruptcy became the only option.

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.

Bankruptcy Case 10

Age: 36

Occupation: Security Guard

Annual Income: $68,000.00

Reason for Bankruptcy: over commitment of credit

Assets to be surrendered: Nil

Secured Debt: $0.00

Unsecured Debt: $94,665.00

Unsecured Debt Breakdown:

Credit Cards $75,532.00

Personal Loans $19,133.00

Telco $0.00

ATO $0.00

 

Summary: Married person who become over committed and had no real way to pack back all the debt.

Bankruptcy Case 9

Age: 54

Occupation: Security

Annual Income: $48,000.00

Reason for Bankruptcy: Excessive use of credit

Assets to be surrendered: Nil

Secured Debt: $29,136.00

Unsecured Debt: $54,385.00

Unsecured Debt Breakdown:

Credit Cards $50,842.00

Personal Loans $2,500.00

Telco $1,043.00

ATO $0.00

 

Summary: Family person who could no longer both provide for their family and meet creditor payments.

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.

Bankruptcy Case 7

Age: 53

Occupation: Butcher

Annual Income: $82,500.00

Reason for Bankruptcy: Adverse Legal Action

Assets to be surrendered: Nil

Secured Debt: $0.00

Unsecured Debt: $19,278.00

Unsecured Debt Breakdown:

Credit Cards $19,278.00

Personal Loans $0.00

Telco $0.00

ATO $0.00

 

Summary: Single person who fell behind and after creditor took legal action decided that he would prefer to choose bankruptcy as his debt solution.

Bankruptcy Case 6

Age: 46

Occupation: Pest Controller

Annual Income: $58,000.00

Reason for Bankruptcy: Excessive use of Credit

Assets to be surrendered: Nil

Secured Debt: $11,00.00

Unsecured Debt: $40,265.00

Unsecured Debt Breakdown:

Credit Cards $13,3060

Personal Loans $26,890.00

Telco $69.00

ATO $54,056.00

 

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

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.

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.