Tag Archive | "3 years"
Understand the Restrictions of Bankruptcy
Step 5 – Understand the Restrictions of Becoming Bankrupt You should fully understand the restrictions which bankruptcy may place on your life before declaring yourself bankrupt. If you can avoid bankruptcy by entering into a Debt Agreement or a Personal Insolvency Agreement, you may be able to avoid some of these restrictions which bankruptcy may place on [...]
Continue reading...Bankruptcy – can the time period be extended?
Saturday, September 5, 2009
Usually the time period for bankruptcy will last for 3 years from the time you submit and file a Statement of Affairs with ITSA. However, the time period for bankruptcy can be extended to 5 years (ie extended by 2 years) or in extreme cases it can be extended up to 8 years (ie extended by [...]
Continue reading...Bankruptcy – what is it & how long is it?
Thursday, July 23, 2009
Bankruptcy is a formal procedure under the Bankruptcy Act for people who cannot pay their debts. Your assets will be sold by your Bankruptcy Trustee, unless they are protected assets under the Bankruptcy Act. Bankruptcy will place many restrictions on your life including the right to freely travel overseas. You will need to keep in regular contact [...]
Continue reading...Bankruptcy
Friday, February 6, 2009
Bankruptcy is most extreme form of debt relief. Bankruptcy can have severe implications on peoples lives and as such all options to avoid bankruptcy should be carefully considered beforehand. You should first enquire to see if you qualify for other options to avoid bankruptcy like a: Debt Consolidation loan; or Debt Agreement; or Personal Insolvency Agreement In most cases bankruptcy [...]
Continue reading...Examinations – can I be examined in bankruptcy?
Tuesday, November 25, 2008
Your Bankruptcy Trustee can apply to court to have you publicly examined. Alternatively your Bankruptcy Trustee could apply to court for a private examination. If your Bankruptcy Trustee applies to court for an examination, he or she can subpoena a wide range of documents. Your Bankruptcy Trustee can also subpoena records from people associated with you.
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Saturday, September 5, 2009
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