Bankruptcy in Australia Bankruptcies in Australia were slightly down in numbers in the 2010/2011 financial year compared to the 2009/2010 financial year. The Australian Financial Security Authority (AFSA) publish the bankruptcy statistics in Australia every financial year. For the first time, AFSA released Australian bankruptcy appointments by postcode for the 2010/2011 year. If you wish to see which postcodes recorded
Month: December 2014
Bankruptcies in Victoria
Victoria experienced over 4,400 bankruptcy appointments in 2010/2011 financial year compared to NSW which recorded 8,162 bankruptcy appointments. For the first time the Insolvency Trustee Service Australia has released statistics based on postcodes for 2010/2011. An analysis of post codes in Victoria reveal that bankruptcy hot spots in Victoria recorded nearly half the number of bankruptcy appointments compared to the
Bankruptcies in Queensland
Queensland came in a close 2nd to NSW with the total number of personal bankruptcy appointments in the 2010/2011 financial year. Queensland had 6,300 bankruptcy appointments in 2010/2011 financial year. For the first time the Insolvency Trustee Service Australia has released statistics based on postcodes for 2010/2011. The worst hit areas in Queensland were: Bundaberg & Abbotsford surrounds (Post Code
Bankruptcies in NSW
NSW experienced over 8,000 bankruptcy appointments in 2010/2011 financial year. For the first time the Insolvency Trustee Service Australia has released statistics based on postcodes for 2010/2011. An analysis of post codes in NSW reveal that bankruptcy hot spots in NSW. The worst hit areas were in Western Sydney and the Central Coast included: Mount Druitt & Minchinbury surrounds (Post
Bankruptcy Advice
If you are searching for bankruptcy advice it is critical that you obtain it from a genuine expert in the field of bankruptcy. Who should you trust for advice? At Bankruptcy Australia we have fully qualified personnel to assist you with your bankruptcy enquiry. Our personnel have years of experience of dealing with and managing bankrupt estates, so you can
Credit whilst bankrupt
Whilst bankrupt you may only apply for credit up to the statutory limit $5,301 (current as at March 2014) . If you apply for credit above this amount $5,301 (current as at March 2014) then you must disclose to the credit provider that you are bankrupt. If you fail to disclose your status as a bankrupt and apply for credit
Trustee to assess the bankrupt’s income for compulsory income contributions
Section 139 of the Bankruptcy Act states that a Trustee in Bankruptcy must assess a bankrupt’s income each year to establish if the bankrupt is liable to pay compulsory income contributions. Try our compulsory income contribution calculator to see if you would be liable for compulsory income contributions.
Trustee can hold a meeting of creditors
A Trustee in Bankruptcy can hold a meeting of creditors and order that the bankrupt attend the meeting and answer any questions under Section 64 of the Bankruptcy Act.
Trustee to publically examine a bankrupt
A Trustee in Bankruptcy can apply to court to publically examine the bankrupt and any associate of the bankrupt under Section 81 of the Bankruptcy Act. The purpose of a public examination may be to assist the Trustee in Bankruptcy to find concealed assets.
Trustee to issue notices to obtain information
A Trustee in Bankruptcy can issue formal notices under the Bankruptcy Act to persons associated with the bankrupt. A Trustee in Bankruptcy may do this to collect more information about the bankrupt’s financial affairs. A Trustee in Bankruptcy may issue a formal notice under Section 77AA of the Bankruptcy Act to any person who has had financial dealings with the
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