Something that some people don’t know when they look at Filing for Bankruptcy is that it is able to actually stop you from travelling overseas. This is one thing that many people overlook, and it can certainly get you in a lot of trouble.
If you are facing Bankruptcy then travel is probably one of your lower concerns– but it is nonetheless important to learn about. However if you are currently more concerned about assets, your house, your home, and what they are going to leave you with, then I would wholeheartedly encourage you take advantage of our free consult at Bankruptcy Experts Brisbane on 1300 795 575.
But I want to clarify to you here a little bit about some of your obligations and restrictions that are placed upon you when it relates to Filing for Bankruptcy. Now don’t let any of this stop you from looking at Filing for Bankruptcy, because it is ultimately often the smartest decision to make, but I want you to be mindful of all the situations that can affect you.
So firstly, when it comes to Filing for Bankruptcy you should know that once you declare bankruptcy you are to be considered a bankrupt until it relates to an end following discharge or annulment. This will generally be 3 years and 1 day after you file.
However! This can be longer if you break the rules. There are a lot of them, so please do consult a qualified service, like that at Bankruptcy Experts Brisbane. But 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 authorization of your bankruptcy trustee. As pointed out the rules on this particular part of Filing for Bankruptcy are clear, and you can face an extension of your bankruptcy period– or even face imprisonment upon conviction. For the most part these regulation exist to stop someone who is facing bankruptcy from fleeing the country. But for the majority of people out there who, for instance have a local business in Brisbane 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 consumer in Brisbane 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 contravention of the bankruptcy conditions, and she in fact faced some severe issues for departing the country without permission.
In all honesty, if she had observed the process there would have been no actual issue because of the circumstances, but rules are rules.
The process encompassing Filing for Bankruptcy and overseas travel is optional on the part of the trustee, but if you don’t ask permission you will end up in trouble– and this is just one of the typically neglected restrictions when it concerns Filing for Bankruptcy. You have to make sure that you recognize as much as you can about Filing for Bankruptcy as early as possible because only then can you attempt to make the best decision for your situation. I suggest that you make the most of our free consultation at Bankruptcy Experts Brisbane on 1300 795 575. And if you have some other questions of concerns about overseas travel or Filing for Bankruptcy, then also visit our website www.bankruptcyexpertsBrisbane.com.au.