Case study

How Leigh wiped $45,000 in debt and kept his home

Bankruptcy
Initial debt
$60,000
Outcome
Debt free
in five years

Key results at a glance

Results that speak for themselves
$60,000
Total debt addressed
~$45,000
Total debt wiped
2
Key assets protected

The challenge

Despite his hard work as a business owner, the liquidation of his company left Leigh trapped in an unmanageable financial situation with his most valuable assets on the line.

Business liquidation

The closure of his company abruptly halted his standard income and left him solely responsible for $60,000 in lingering debt.

Asset risk

He faced the immediate and severe threat of having his primary residence and vehicle seized by creditors.

Limited equity

With less than $10k in home equity, finding standard refinancing or consolidation loans was virtually impossible.

Financial uncertainty

Without a clear path forward, the sheer volume of debt and threat of asset loss created an overwhelming burden.

The solution

After reviewing Leigh’s post-liquidation situation, we identified that a structured bankruptcy, paired with a Deed of Forbearance, would provide immediate legal protection for his assets while addressing the debt.

Comprehensive financial assessment

We evaluated Leigh’s specific financial standing, focusing closely on the limited equity in his home and the value of his vehicle.

Practical guidance

We provided clear, non-judgemental guidance on how bankruptcy could be used strategically as a tool, rather than a punishment, to shield him from further loss.

Tailored solutions

We facilitated a deed of forbearance, establishing a framework for highly affordable payments that satisfied the bankruptcy trustee while legally protecting his home and car.

Complete transparency

We ensured Leigh understood the terms of his bankruptcy, his obligations under the forbearance deed, and the exact timeline for his discharge and financial recovery.

Why this approach worked

Getting started is easy and straightforward

Reason 1

Massive debt reduction

By navigating the bankruptcy process strategically, over $45,000 of Leigh’s overwhelming debt was completely wiped out, effectively reducing his total obligation to just ~$15,000.

Reason 2

Asset preservation

Instead of losing everything he had worked for, the deed of forbearance allowed Leigh to manage an affordable payment plan. He entirely avoided the seizure of his home and vehicle, securing his foundation for the future.

The result

Leigh successfully executed his bankruptcy agreement and is now officially discharged. By pairing the process with a deed of forbearance, he experienced immense financial relief – wiping out over $45,000 in debt while successfully retaining his home and vehicle for a fresh, stress-free start.

Before
After
Improvement
Total debt
$60,000
~$15,000
~$45,000 wiped
Asset status
High risk of seizure
Legally protected
Kept home and vehicle
Financial status
Facing severe insolvency
Discharged
Secured financial future
Administrative burden
High (post-liquidation stress)
Low (structured forbearance)
Time and stress saved

Additional benefits

A comprehensive approach to your financial recovery

A completely fresh financial start following a stressful business liquidation

Immediate legal protection against aggressive creditor harassment and asset seizure

Mental clarity and restored peace of mind, knowing his home is safe

The ability to rebuild financial stability and focus on the future with a clean slate

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What our customers are saying

Very helpful consolidating my bills into one. Very happy with the final outcome of being debt free. They helped me make repayments more affordable.

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Very happy with my outcome Nick was very helpful taking me step-by-step which made it very easy thank you Nick for helping me

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The staff at at Revive Financial were amazing and helped me through a very tough time. At any time where I needed information or just checking how everything was going, they were always so nice and understanding. My debt has been finalised and it feels great, the whole procedure was so easy and they took care of everything for me and I’m so grateful🙂

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Anonymous
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Best decision I've ever made. I am finally debt free!! Thankyou for your ongoing support, I genuinely couldn't have done it without you. If you're looking for a sign, this is it.

Alec
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When life become financially unfriendly ,it’s killing me mentally ,effecting my performance as professional and as person ,I decide to give myself free from this nasty creditor phone calls ,chasing me everyday with they nasty legal threats ,in the end of the day ,my mental wellbeing must come first , and worth more then any money in this world ! That’s why I take this consequences in order to give my self better success as soon as clear my self from this toxid debt collectors .

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Amazing how simple the process was made Thank you Mason for taking the financial pressure of me

Laurie Wozniuk
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Amazing customer service! A special thank you to Annette for being so patient, understanding and supportive throughout the whole process. She took the time to answer all of my questions, explain everything clearly and made me feel comfortable every step of the way. I truly appreciate all of her help and support. Highly recommend! ❤️

Monalisa
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From start to finish was very easy and straight forward. I appreciated all the help and would recommend your first port of call to revive financial for their help and guidance. Thank you all at Revive. Richard

Richard
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