What is a bankruptcy notice?
A bankruptcy notice is one of the key documents which must be issued before applying to the court to make a person bankrupt. A bankruptcy notice states the amount of money owed and brief reasons about why the debt is owed. The debt claimed in a bankruptcy notice must be a final order or judgment made in a court proceeding.
When a person fails to pay the debt stated in a bankruptcy notice within 21 days of it being served, they have committed an ‘act of bankruptcy’.
If a person owes you a judgment debt for more than $10,000, we can assist you to prepare a bankruptcy notice and bankruptcy proceedings if the notice goes unpaid.