|December 20, 2016||Comments Closed|
My goal right now is to try and inform you regarding potential problems you may have with Bankruptcy so that you can stay clear of making errors!
When it includes Bankruptcy, there is lots of difficulty and misinformation as a result of how complicated it might be, and how emotionally charged persons are whenever they are going through it. Here at Bankruptcy Experts Ipswich we absolutely wish to make sure people recognize that if you make errors it may be extended from 3 years to 5 (or even 8) years!
Indeed, this means that you will remain even longer in the ‘Bankruptcy limbo’ so stay clear of triggering any of the following facets– because if you do, then Bankruptcy becomes far more challenging.
The standard factor that a Bankruptcy period will be stretched is if you act dishonestly or unethically.
MINOR BREACHES – Extend to 5 Years
As I mentioned, Bankruptcy is complex, so just make sure you behave genuinely. Before entering into bankruptcy you must ensure that you state everything– because if it is identified that you made a preferential payment, or entered into an underestimated financial transaction this will be a minor breach and will prolong the term. In addition to that, you have to make certain that you stay away from particular aspects while you are insolvent, so please:
MAJOR BREACHES – Extend to 8 Years.
So when it relates to Bankruptcy, there are some areas that if you are in violation can effectively end up increasing the term to 8 years. This is certainly something you will want to steer clear of. So please, while Insolvent:
And furthermore, if before personal bankruptcy you did any of the following:
Bankruptcy and these kinds of duration extensions in Australia are always complex and tricky, and sadly, what I have just detailed is just the tip of the Iceberg. If you need to know more about Bankruptcy don’t hesitate to seek advice from us here at Bankruptcy Experts Ipswich on 1300 795 575, or visit our website: www.bankruptcyexpertsipswich.com.au