Simply put bankruptcy is a legal process
that involves selling your assets to pay off your debts. Well most of them. You see, once your bankruptcy ends, you may still have responsibilities… Anything that was
originally earmarked to be sold must still go ahead. Student debts, like HECS, and
maintenance debts like child support also have to be paid during and after
your bankruptcy. You’ll still need to pay for things like electricity, gas and water, as well as any outstanding traffic fines. Any debt you take on after you become
bankrupt will also be your responsibility. For more information on the kind of debts that survive bankruptcy Check out the AFSA website. Understanding your responsibilities before you enter bankruptcy will ensure
you manage your situation in the best way possible.