Are all debts discharged in Bankruptcy?
A common misconception is that ALL debts you owe at the time of Bankruptcy will be discharged if you enter into Bankruptcy – this is not the case. Certain debts are not covered by (provable in) Bankruptcy; for example: child support debts, HECS / HELP debts, fines, debts incurred after the date of bankruptcy and anything related to fraud.
AFSA (Australian Financial Security Authority) is the Government department responsible for overseeing the Insolvency industry. Here is their quick info-video;
There are options to avoid Bankruptcy.
If debt has become a problem for you, you need to get advice.