Tag Archive | "itsa"
Understand the Restrictions of Bankruptcy
Saturday, September 5, 2009
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...Don’t Commit an Offence whilst bankrupt
Tuesday, September 1, 2009
Be careful not to inadvertently commit an offence whilst you are bankrupt. Committing an offence whilst you are bankrupt could lead to your bankruptcy being extended for up to 5 or 8 years and in some cases can lead to a prison sentence and or a fine. Listed below are some offences described in the Bankruptcy [...]
Continue reading...Credit – can I incur credit after bankruptcy?
Tuesday, November 25, 2008
As a bankrupt you must disclose your bankruptcy appointment to a provider of finance if you apply for credit exceeding $5,009. This amount is indexed every six months by ITSA.
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Tuesday, April 13, 2010
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