Tag Archive | "bankruptcy trustee"
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...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.
Continue reading...
Saturday, September 5, 2009
0 Comments