Best Way to Approach Potential Bankruptcy?

[Tiffany F]

My uncle, a Vietnam veteran on a disability support pension, used cash advances on many credit cards to rack up about $60,000 in credit card debt. We are now helping him to get support because he gambled away the money at the casino. However, credit card interest is mounting and my uncle is considering bankruptcy. He has no home or other assets except for an unregistered car (valued at less than $4,000). Does anyone have any suggestions on the best way to approach potentially declaring bankruptcy?

 

[Wendy F]

Have you/your uncle checked out the Australian Financial Security Authority website? It has a good section that sets out options for dealing with unmanageable debt, including both informal and formal arrangements.