One thing that some people don’t know when they take a look at Bankruptcy is that it can actually prevent you from taking a trip internationally. This is something that many people forget, and it can actually get you in a lot of trouble.
If you are experiencing Bankruptcy then travel is probably one of your minor concerns– but it is nevertheless important to learn about. However if you are at the moment more concerned about assets, your house, your home, and what they will most likely leave you with, then I would wholeheartedly propose you take advantage of our free consultation at Bankruptcy Experts Alice Springs on 1300 795 575.
But I want to explain to you here a bit about some of your obligations and restrictions that are placed upon you when it concerns Bankruptcy. Now don’t let any of this stop you from exploring Bankruptcy, because it is ultimately often the smartest decision to make, but I want you to be informed of all the situations that can affect you.
So firstly, when it concerns Bankruptcy you should know that once you declare bankruptcy you are to be regarded as a bankrupt until it relates to an end due to discharge or annulment. This will usually 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 a skilled service, like that at Bankruptcy Experts Alice Springs. But for now, let’s discuss overseas travel.
First and foremost, it is an offence to travel while bankrupt, or even to make arrangements to travel without the written consent of your bankruptcy trustee. As mentioned the rules on this part of 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 prevent someone who is facing bankruptcy from fleeing the country. But for many people out there who, for example have a local business in Alice Springs and have just made some poor decisions, this won’t be the risk, but the limitations will still apply.
For instance, we once had a consumer in Alice Springs 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 in fact faced some substantial issues for departing the country without permission.
In all honesty, if she had observed the procedures there would have been no actual issue because of the circumstances, but rules are rules.
The process encompassing Bankruptcy 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 that is just one of the typically neglected restrictions when it concerns Bankruptcy. You have to make sure that you understand as much as you can about Bankruptcy as early on as possible since only then can you try to make the best decision for your situation. I suggest that you capitalize on our free consultation at Bankruptcy Experts Alice Springs on 1300 795 575. And if you have some other questions of concerns about overseas travel or Bankruptcy, then also go to our website www.bankruptcyexpertsAliceSprings.com.au.