Australia's #1 Choice for Bankruptcy Solutions!      Call Us: 1300 795 575

Archive: Posts

Image

Insolvency Advice Canberra– how travel can get you in trouble.

One thing that lots of folks don’t realise when they take a look at Insolvency Advice is that it can actually stop you from travelling overseas. This is an element that many people overlook, and it can actually get you in a lot of trouble.

image

If you are going up against Bankruptcy then traveling is probably one of your lesser concerns– but it is still important to find out about. However if you are right now more worried about assets, your house, your home, and what they will most likely leave you with, then I would wholeheartedly suggest you make the most of our free consult at Bankruptcy Experts Canberra on 1300 795 575.

But I want to explain to you here a little bit about some of your obligations and restrictions that are placed upon you when it relates to Insolvency Advice. Now don’t let any of this stop you from exploring Insolvency Advice, because it is ultimately often the smartest decision to make, but I want you to be informed of all the situations that can affect you.

So firstly, when it relates to Insolvency Advice you should know that once you declare bankruptcy you are to be considered a bankrupt until it relates to an end as a result of discharge or annulment. This will commonly be 3 years and 1 day after you file.

However! This can be longer if you break the rules. There are a variety of them, so please do consult a skilled professional service, like that at Bankruptcy Experts Canberra. But for now, let’s go over overseas travel.

First and foremost, it is an offence to travel while bankrupt, or even to make arrangements to travel without the written approval of your bankruptcy trustee. As discussed the rules on this part of Insolvency Advice are clear, and you can face an extension of your bankruptcy period– or even face imprisonment upon conviction. Mostly these regulation exist to stop someone who is facing bankruptcy from fleeing the country. But for the majority of people out there who, for example have a business in Canberra and have just made some poor judgments, this won’t be the risk, but the constraints will still apply.

For instance, we once had a customer in Canberra who, declared bankruptcy and a year later was unfortunately was told that their mother died in her home in England. Our client, obviously upset, took the next plane available to go see her family. However, this was in violation of the bankruptcy conditions, and she in fact faced some substantial issues for leaving the country without permission.

In all honesty, if she had observed the procedures there would have been no real issue because of the circumstances, but rules are rules.

The process encompassing Insolvency Advice and overseas travel is discretionary on the part of the trustee, but if you don’t ask permission you will find yourself in trouble– and that is just one of the typically discounted restrictions when it concerns Insolvency Advice. You should ensure that you understand as much as you can about Insolvency Advice as early as possible simply because only then can you try to make the best decision for your situation. I suggest that you take advantage of our free consultation at Bankruptcy Experts Canberra on 1300 795 575. And if you have some other questions of concerns about overseas travel or Insolvency Advice, then also go to our website www.bankruptcyexpertsCanberra.com.au.