Bankruptcy Advice, Bankruptcy Australia, Insolvency

Insolvency Advice Australia – How travel can get you in trouble.

One thing that many people don’t realise when they consider Insolvency Advice is that it is able to actually prevent you from travelling internationally. This is something that many people overlook, and it can certainly get you in a lot of trouble.

If you are grappling with Bankruptcy then traveling is probably one of your minor concerns– but it is nevertheless important to find out about. However if you are currently more anxious about assets, your house, your home, and what they will leave you with, then I would wholeheartedly suggest you take advantage of our free consultation at Bankruptcy Experts Australia on 1300 795 575.

But I want to clarify to you here a bit about some of your obligations and restrictions that are placed upon you when it concerns Insolvency Advice. Now don’t let any of this stop you from exploring Insolvency Advice, because it is ultimately often the smartest decision to make, but I want you to be aware of all the situations that can affect you.

So firstly, when it concerns Insolvency Advice you should know that once you declare bankruptcy you are to be considered a bankrupt until it relates to an end because of discharge or annulment. This will conventionally be 3 years and 1 day after you file.

However! This can be longer if you break the rules. There are a variety of them, so please do consult an experienced service, like that at Bankruptcy Experts Australia. For now, let’s tackle overseas travel.

First and foremost, it is an offence to travel while bankrupt, or even to make arrangements to travel without the written approval of your bankruptcy trustee. As discussed the rules on this particular part of Insolvency Advice are clear, and you can face an extension of your bankruptcy period– or even face imprisonment upon conviction. Generally these regulation exist to stop someone who is facing bankruptcy from fleeing the country. But for most people out there who, for example have a small business in Australia and have just made some poor decisions, this won’t be the risk, but the constraints will still apply.

For instance, we once had a client in Australia who, declared bankruptcy and a year later was unfortunately was told that their mother died in her home in England. Our client, obviously upset, took the next plane available to go see her family. However, this was in violation of the bankruptcy conditions, and she actually faced some severe issues for leaving the country without permission.

In all honesty, if she had followed the procedures there would have been no real issue considering the circumstances, but rules are rules.

The process encompassing Insolvency Advice and overseas travel is optional on the part of the trustee, but if you don’t ask permission you will find yourself in trouble– and this is just among one of the usually discounted restrictions when it concerns Insolvency Advice. You should ensure that you comprehend as much as you can about Insolvency Advice as early as possible because only then can you try to make the very best decision for your situation. I advise that you make the most of our free consultation at Bankruptcy Experts Australia on 1300 795 575. And if you have any other questions of concerns about overseas travel or Insolvency Advice, then also see our website www.bankruptcyexpertsAustralia.com.au.

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