Can I keep any assets if I go bankrupt?

You are allowed to keep, however, a vehicle that is worth up to the protected threshold, which is currently set at $9,400. If your vehicle is worth more than this, the Trustee would need to sell it for what it is worth, but they would then return the protected amount of $9,400 to you for the purchase of a lesser valued vehicle. You can keep tools of trade up to the amount of $4,350 so that you can continue to carry on your trade.

LOOKING FOR BANKRUPTCY INFORMATION?
VIEW OUR COMPREHENSIVE

INFORMATION
PORTAL

GET CONFIDENTIAL, OBLIGATION FREE
ADVICE
NOW

CALL 1800 462 767 NOW

Liability limited by a Scheme approved under Professional Standards Legislation.

AUSTRALIAN BANKRUPTCY SERVICES © 2024. ALL RIGHTS RESERVED.