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A bankrupt is legally obligated to cooperate with their trustee in bankruptcy per the Bankruptcy Act. This includes providing all books and records that are in their possession, as well as their passport if requested. In addition, a bankrupt must provide information about their examinable affairs as the trustee requires. Section 77 of the Bankruptcy Act requires the bankrupt to:

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Bankruptcy is often seen as the last resort for people in serious debt. This has been the case for decades and bankruptcy has always had some level of stigma attached to it within the Australian community. Bankruptcy can also have long term consequences and as such you need to carefully understand these consequences before you file for bankruptcy. If you

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How to Handle Bankruptcy Many people want to avoid it, but bankruptcy is at times an inevitable situation. If the debts are too much to pay, bankruptcy is a legal process that will allow someone to be separated from what they owe. For anyone looking to have a fresh start in eliminating a massive debt, bankruptcy might be the solution.

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What are my limitations when I declare bankruptcy? There are various consequences that you need to be aware of when you declare bankruptcy. It affects your ability to earn income, your house and even your car. Read below for more on how bankruptcy affects these parts of your life. Can you earn income if you declare bankruptcy? A common question

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Covid-19 Debt Protections Ended 1 January 2021 The federal government announced temporary changes to bankruptcy laws in March 2020 to provide debt relief for individuals during the Covid-19 pandemic as follows: The debt threshold for creditors to apply for a bankruptcy notice increased to $20,000 and; The time period for a debtor to respond to a bankruptcy notice increased to

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