A Guide to Bankruptcy Offences

When you file for bankruptcy, there are certain guidelines and rules that you must follow. It is not as simple as people think, but if you follow these simple guidelines you should be able to avoid committing any offences which could lead your bankruptcy being extended.

You are not allowed to sell or dispose of any property leading up to your bankruptcy and you must disclose all of your property and creditors to your trustee in bankruptcy.

If you fail to be transparent and honest when completing your bankruptcy application, your trustee will have grounds to extend your bankruptcy beyond the usual 3 year period.

Furthermore, whilst you are bankrupt you cannot incur debt of more than the prescribed amount (currently $6,144) without telling creditors that you are in bankruptcy.

For a complete list of bankruptcy offences please call us on 1800 462 767.