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Information video: 'Bankruptcy: not the only option'

People in serious financial difficulties do have alternatives to bankruptcy and I am pleased to launch today an information video outlining those options.

The video, "Bankruptcy: not the only option" , has been produced by ABC TV Marketing for the Insolvency and Trustee Service, Australia. It provides people in serious financial difficulty with information about bankruptcy and its alternatives.

It is important that people in financial difficulty make the right choice about bankruptcy for their individual circumstances.

The advice in this video is very relevant for those on relatively low incomes and with a low level of assets whose financial difficulty arises from excessive use of credit. They may be able to use the new debt agreement scheme which is a formal alternative to bankruptcy.

The information video can be seen at offices of the Insolvency & Trustee Service (ITSA) and copies will be distributed to financial counsellors in all States.

Copies of the information video can also be purchased from ITSA offices in each State and Territory.

Contact details for 1TSA State & Territory Offices are:

Sydney, 02 9581 7822, Melbourne, 03 9272 4800

Brisbane, 07 3360 5444, Adelaide 088 205 4296,

Perth, 09 268 1222, Hobart, 03 6221 7777

Media contacts:

Nicholas Hatford, Attorney-General's office, 06 277 7300

Jack Woodforde, Attorney- General's Dept, 06 250 6512

Brett Bayly, Attorney-General's Dept, 041 848 7238