Author Topic: Can i apply for Bankruptcy?  (Read 10567 times)


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Can i apply for Bankruptcy?
« on: Dec 19, 2015, 12:17:20 AM »
I am a student who has just finished their university course and i have moved to Australia on a working holiday visa for a year in September. i have no money left to my name and i only have a roof over my head and food due to my girlfriend. back home in the uk i have two credit cards of £2250 and £2500 along with two student overdrafts of £1500 and £2000, all of this debt has arisen due to a gambling addiction i had. My grandma back home was making my minimum payments on the credit cards but she is really struggling and i will have to pay her the money back when i come home after a year anyway and i wont be able to do that either as i have no assets and no money, i am really failing to see any solution.
When i go back in september my overdrafts will no longer be interest free and they will be lowered and i dont have the means to pay them off, which will result in more and more charges and i really dont know what i can do anymore.
My main question is would i be able to declare bankruptcy from Australia and is there any method in which i would not have to pay any fee as i have no money to my name at all?and would bankruptcy also remove my student overdraft accounts? also how does bankruptcy effect you afterwards?

Thanks in advance for your time and help