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What is Bankruptcy and how is it declared? (2022 Updated Guide) Bankruptcy is a legal process wherein people who are unable to pay their debts give up their assets and control of their finances, either by consent or by court order, in exchange for legal protection from their creditors. Are you eligible to file for bankruptcy? A bankruptcy petition can

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How do I know if Bankruptcy is right for me? Bankruptcy is a legal procedure that can be filed when a person cannot pay their debts. The Bankruptcy Act of 1966 and the Australian Financial Security Authority manage bankruptcy in Australia. In exchange for protection against a creditor suing you, a person or company that you owe money to once

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Can I Travel Overseas If I’m Bankrupt?   If you are bankrupt, or are considering bankruptcy, you may be wondering if you are able to travel overseas or not.   The answer is yes, you can travel overseas whilst bankrupt, but you must first obtain permission from your Bankruptcy Trustee. This includes if you need to travel urgently or for

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We all know that with bankruptcy, there is a trail of loss which follows with it. We will help you understand if you will be released from all debts once you are discharged from bankruptcy. The debts which you will not be released from are known as non-provable debts. With non-provable debts you will need to negotiate a payment plan

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How to Recover from Bankruptcy If you are currently bankrupt and want to start planning for your future, here’s how you can recover from the bankruptcy process and start a new life. It is important to realise that your mindset will impact you as much as your ability to act. You have already made it through some tough financial times,

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