Tag Archive | "bankrupt"
Personal Insolvency Agreement | PIA
A Personal Insolvency Agreement (PIA) is another formal restructuring agreement with your unsecured creditors. A Personal Insolvency Agreement is also known as a Part X arrangement as it is administered under Part X of the Bankruptcy Act. Only a To be eligible to propose a PIAyou must be insolvent, ie you cannot pay your debts when [...]
Continue reading...Debt Management
Friday, February 6, 2009
Debt Management is the process where you may choose to negotiate directly with your creditors to settle your debts. If you only have one or two creditors we recommend that you first approach your creditors directly and try to negotiate an informal payment arrangement. If you have more than two creditors negotiating an informal arrangement may [...]
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...Travel – can I travel overseas?
Wednesday, November 26, 2008
A bankrupt must deliver their passport to their Bankruptcy Trustee. It is at the Trustee’s discretion as to whether a bankrupt can travel overseas whilst bankrupt. Usually the Bankruptcy Trustee will require a travel itinerary but may also require a bond to be paid.
Continue reading...Creditor calls – can creditors continue to call me after bankruptcy?
Wednesday, November 26, 2008
Your Bankruptcy Trustee will deal with calls from your creditors. Be aware that you must pay for all debts you incur after you become bankrupt.
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Friday, February 6, 2009
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