Our Mission
Helping individuals facing bankruptcy find clarity by providing clear, professional, and practical bankruptcy guidance, ensuring a smooth path toward financial recovery. We understand the anxiety and pressure that come with bankruptcy, which is why our mission is to:
✅ Simplify the Bankruptcy Process
– Breaking down complex legal procedures into easy-to-understand steps, allowing you to quickly grasp key bankruptcy knowledge and avoid unnecessary legal risks.
✅ Save Time and Money
– Offering efficient and practical bankruptcy guidance to reduce legal consultation costs and extra expenses, helping you complete the process at minimal cost.
✅ Protect Your Rights and Avoid Mistakes
– Our courses and consultation services ensure that you do not lose your rights due to misinformation or misunderstandings during the bankruptcy process.
✅ Rebuild Financial Stability
– Bankruptcy is not the end but a fresh start. Beyond legal and procedural guidance, we help you develop healthy financial habits to regain financial independence.
We believe everyone deserves a second chance, and we are here to help you turn the page.
— Ruthy Chan Financial Resurrection Consultancy
Our Advantages: Professional Guidance Through the Bankruptcy Process
Why Choose Us?
Filing for bankruptcy is a complex process with unclear guidance, leaving many individuals overwhelmed by legal procedures. Furthermore, the current system primarily protects creditors, often neglecting the rights of bankrupt individuals, leading to the following challenges:
• Complex Legal Procedures – Lack of clear guidance makes it difficult for individuals to file for bankruptcy on their own.
• Trustee’s Role – Bankruptcy trustees primarily serve creditors, offering minimal protection for the bankrupt individual.
• Limited Government Resources – Official Receiver's Office are often overloaded, potentially overlooking the actual needs of bankrupt individuals.
• High Legal Risks – Many individuals unknowingly violate laws due to unfamiliarity with regulations, facing hefty fines or even criminal prosecution. According to the Official Receiver’s Office, as of 2023, 7% of bankrupt individuals have faced prosecution, with numbers continuing to rise.
• Lack of Long-Term Support – The bankruptcy period lasts up to four years, and without proper guidance, financial planning and quality of life may be significantly impacted.
How to File for Bankruptcy Without Funds?
The government fee for self-petition bankruptcy is HK$9,045, but additional legal and administrative costs may apply. If financial constraints prevent you from affording these expenses, you may seek assistance through the following options:
• Charity Assistance – Certain organisations provide funding between HK$3,000 to HK$12,000 to help cover bankruptcy application fees.
• Our Support – Our team offers assistance in identifying suitable financial aid options, guiding you through the entire application process until completion.
We are committed to ensuring that bankrupt individuals receive the legal protection they deserve, offering comprehensive support to help you navigate the bankruptcy process and rebuild your financial future.
Many bankrupts are unaware of their obligations, and failure to comply with legal requirements due to negligence or lack of information may result in:
• Delayed Discharge from Bankruptcy – Extending the bankruptcy period for up to eight years.
• Heavy Fines or Criminal Liability – Potentially leading to a criminal record.
(Top Image: Bankrupts queuing outside a courthouse awaiting trial.)
(Bottom Image: Statistical data on prosecuted bankrupts from 1997 to 2024.)
Legal Risks for Bankrupt Individuals
Ruthy’s Professional Profile
CPA (HK), CA
• Former Insolvency Officer at the Official Receiver’s Office – Highly experienced in handling bankruptcy and winding-up prosecution cases, recognised for her expertise in the industry.
• Diverse Professional Experience – Worked in second-tier CPA firms, consulting companies, large state-owned enterprises, multinational corporations, and government departments.
• Specialist in Complex Cases – Skilled in managing challenging insolvency matters, devising effective business strategies, and tailoring customised service solutions.
• Academic & Professional Qualifications – Holds a Bachelor of Commerce in Accounting.
• Professional Memberships – Member of the Hong Kong Institute of Certified Public Accountants (CPA HK) and the Institute of Chartered Accountants in England and Wales (CA).
"But one thing I do: Forgetting what lies behind and straining forward to what lies ahead, I press on toward the goal for the prize."
Stay persistent, never give up.
Contact Us
Unit 20, WanderLoft, 22/F, 9 Chong Yip Street, Kwun Tong, Kowloon
5508 9548
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