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The Bankruptcy Handbook

The Bankruptcy Handbook

2nd edition

By Betty Weule, Wayne Warburton and Richard Brading


The Bankruptcy Handbook provides a clear and concise overview of the legal and financial processes, and of the implications for people facing bankruptcy. It provides practical assistance to all working in the insolvency field, in rural as well as urban areas.

It includes:

  • case studies for different bankruptcy scenarios;
  • an overview of the relationship between bankruptcy and family law;
  • discussion of taxation and superannuation;
  • an Australia-wide contact list;
  • information about the sequestration order and key bankruptcy processes;
  • practical resources such as a guide to filling out the ITSA Statement of Affairs, which is reproduced in full;
  • the pros and cons of alternatives to bankruptcy such as debt agreements and personal insolvency agreements;
  • web addresses for various resources, including ITSA forms; and
  • a glossary.

The book’s plain, accessible language and its recognition of the importance of emotional issues mean that it will also be helpful to many debtors having to consider the option of bankruptcy.

The authors are three of Australia’s most experienced practitioners: Dr Betty Weule, doyenne of Australian financial counsellors, Dr Wayne Warburton, psychologist, of the National Financial Counsellors Resource Service, and Richard Brading, Principal Solicitor of the Wesley Community Legal Service.


The History of Bankruptcy
Bankruptcy in Australia
Bankruptcy Today
Becoming Bankrupt
The Sequestration Order
Filling out the Statement of Affairs
Financial Counselling for Potential Bankrupts
Choosing Bankruptcy
Administration of the Bankrupt Estate
What Happens to the Property of the Bankrupt?
Personal Insolvency Agreements
Part IX Debt Agreements
Contributions to the Bankruptcy
Release From Bankruptcy
Personal Injury Compensation
Bankruptcy and Family Law
Permission to Leave the Country
Part XI: Administration of Insolvent Deceased Estates

Glossary of Terms
Appendix I: The Statement of Affairs
Appendix II: ITSA Prescribed information
Appendix III: Where to Seek Additional Information


It is concise yet comprehensive and to the point, but above all reader friendly. I have already ordered four copies for our service. Congratulations to Betty, Wayne and Richard and many thanks for enriching our resources.

Abdulla Adam, City of Wanneroo, Financial Counselling Services, WA

This brief but comprehensive plain language overview of Austrlain bankruptcy law and prctice canvasses earliest to latest developments in the area.
Practitioners seeking guidance simplifying some of the complexities of this area of practice for their clients would do well to refer to this text..[it] has a practical rather than technical focus, catering well to the authors' intended primary audience of financial counsellors working with debtors who may be considering bankruptcy. The authors' wealth of experience and understanding of the pressures and difficulties experienced by individuals facing bankruptcy is obvious throughout, particularly in the case studies.

Ethos, Law Society of ACT, June 2008

This small book serves very well its function as a handbook for the uninitiated. It is written in clear, uncomplicated style, and its readability is enhanced by the use of sub-heading and bulleted lists.
This volume is reasonably priced, and as an easy way to be introduced to the basics of bankruptcy, any library would benefit by this modest expenditure.

Australian Law Librarian, Vol 16 No 2, 2008


Published 18 December 2007
Publisher The Federation Press
ISBN 9781862876217
Australian RRP $29.95
International Price $25.00
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Law - Debt Recovery
Law - Insolvency

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