One of the biggest fears that people have about bankruptcy is that they will lose their home – second to this is the fear that they will be unable to own their own home in the future. This fear is unnecessary, for there is nothing to stop you from getting a mortgage after you have come out of bankruptcy, although
Category: faq4
Will I lose my car if I go bankrupt?
The current protected amount for a vehicle is $9,400 (as at March 2024). What this means is that if your vehicle is worth less than $9,400 you will simply be allowed to keep it. If it is worth more than that, your Trustee in Bankruptcy would sell the vehicle and return the protected amount of $9,400 to you so that
Will I lose my house if I go bankrupt?
Bankruptcy is a process that is designed to act as a sort of mediator between someone who is unable to pay their debts and their creditors. It releases you from your obligation to pay your debts, but if you have any assets or substantial income that can be put towards them, you will be required to contribute those to your
Will I lose my superannuation in bankruptcy?
The thought of losing your superannuation can be terrifying, as one day it is going to be all that you have to live on. So naturally it is a big concern for people who are considering bankruptcy. The good news is that your superannuation is protected under bankruptcy and will not be touched. The only reason it would be is
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