We're a firm believer in doing everything you can to avoid bankruptcy if that's an option. It seems an easy solution in the beginning. It's the long term consequences of deciding to go bankrupt that is the thing that causes you problems in the end. We advocate short term pain for long term gain. There are lots of things you can do to avoid going bankrupt or even signing a Part IX or Part X agreement which will see banks and other institutions still happy to offer you finance in the future.
If you need advice you're best to pick up the phone and talk to one of our team and we will see if we can provide you a solution to help you avoid bankruptcy 1300 361 051
Here's a little video we found that gives you an idea of the consequences.