Tag Archive | "debts"
Creditor calls – can creditors continue to call me after bankruptcy?
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...Bankruptcy – when should I declare bankruptcy?
Wednesday, November 26, 2008
You should only declare yourself bankrupt if you cannot pay your debts and you have no means of selling assets to pay off debt. Please carefully examine the types of debts you have as some debts will survive bankruptcy, ie you will not be release from the following debts: Secured debts HECS Student loans Government fines / Court fines Child [...]
Continue reading...Debts – will bankruptcy clear all debts incurred before bankruptcy?
Tuesday, November 25, 2008
Bankruptcy will not release you from all debts, ie the debts will survive bankruptcy. This means you will continue to be liable to pay the following debts even after you are discharged from bankruptcy: Secured debts HECS Student loans Government fines / Court fines Child Support Amount payable arising from a “proceeds of crime” order Debts incurred by fraud (over Centrelink fraud) Unliquidated [...]
Continue reading...Credit file – will my credit file be affected?
Tuesday, November 25, 2008
Yes – your credit file will be impaired for at least 7 years and the bankruptcy appointment will be listed on your file for at least 7 years. You may also be asked in future credit applications (even after 7 years) if you have previously been bankrupt. The fact that you have previously been bankrupt may [...]
Continue reading...Debts – what happens to debts incurred after bankruptcy?
Tuesday, November 25, 2008
If you incur a new debt after you become bankrupt, then you must pay for it, otherwise you could be made bankrupt again. It is possible you can become bankrupt multiple times if you fail to pay your debts.
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Wednesday, November 26, 2008
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