Section 73 Proposals

Section 73 proposals are used to annul bankruptcies and can be used as a way to bring your bankruptcy to an early end so that you can get back to living the life you want to be living.  There are alternatives to declaring bankruptcy, but if bankruptcy is your best option then it must not be avoided.

The restrictions placed on bankrupt individuals can deter people from taking necessary actions such as declaring bankruptcy.  Section 73 proposals can be the light at the end of the tunnel and the Insolvency Advisory Accountants team can help you to get through bankruptcy much faster than you may have previously thought.

If you decide to pursue a voluntary bankruptcy, or if you are being pushed into bankruptcy by creditors, you should know that there are ways to cope with the consequences that come with bankruptcy.  The repercussions of creditor’s claims can often result in bankruptcy, regardless of whether it was the individual’s choice to enter bankruptcy or if it was filed by a creditor. However, bankruptcy is far from the end of the world for the person who undergoes it.

Insolvency Advisory Accountants can refer you to a trustee or a person that will be able to offer you assistance in dealing with a Part X or Sections 73 Proposal, as they are within the Bankruptcy Act.  Using a section 73 proposal to annul a bankruptcy has allowed many people to get through the process of bankruptcy in a matter of months instead of the usual 3-5 year period.

Insolvency Advisory Accountants have years of experience dealing with section 73 proposals and they can help you to decide if lodging a section 73 proposal can help you to overcome your bankruptcy ahead of schedule.  Contact the Insolvency Advisory Accountants team today for more information about section 73 proposals.

To find out if a section 73 proposal can help you, call Insolvency Advisory Accountants today on 1300 844 350