During these trying financial times it is not unusual to see clients who are suffering from financial distress.  There is free information available in relation to your options.  Legal aid have a Mortgage Stress hand book available online at:




There is also a service for people who are struggling to make repayments on the mortgage on their home (not an investment property), run by Legal Aid.  The phone number for the Parramatta office is 02 9891 1600, and you can ask to speak to ‘Nat’ who is the mortgage solicitor.


Unfortunately for some people the problem is that they simply cannot  pay their debts.  The bankruptcy regime was created partly as a solution for people who cannot pay their debts. The government trustee, the Insolvency and Trustee Service Australia, provides information on their website regarding how to enter into bankruptcy, and answers common questions such as what assets are protected, and what income is protected, at:



Janis Donnelly-Coode of this office is experienced in personal bankruptcy law, but often the decision to enter into bankruptcy is really a question of whether you are personally insolvent.  Can you pay your debts as and when they fall due?  If the answer is no, are you likely to be in a better financial position in the near future?  If the answer is still no, then the only answer may be to contact ITSA about declaring yourself bankrupt.