Bankruptcy Experts Geelong – how travel can get you in trouble.
One point that a few people don’t know when they have a look at Bankruptcy is that it can in fact stop you from travelling internationally. This is an aspect that many people neglect, and it can actually get you in a lot of trouble.
If you are facing Insolvency then vacationing is probably amongst your minor considerations– but it is however crucial to learn about. Having said that if you are currently more nervous about assets, your house, your home, and what they are going to leave you with, then I would completely recommend you take advantage of our free consult at Bankruptcy Experts Geelong on 1300 795 575.
But I would like to clarify to you here a little bit about a number of your responsibilities and limitations that are placed upon you when it relates to Bankruptcy. Now do not let all of this stop you from looking at Bankruptcy, because it is practically often the smartest choice to make, but I wish you to become familiar with all the situations that can affect you.
So to begin with, when it comes to Bankruptcy you ought to know that as soon as you declare bankruptcy you are to be considered a bankrupt until it comes to an end following discharge or annulment. This will normally be 3 years and 1 day after you file.
However! This may be longer if you break the policies. Presently there are a number of them, so kindly do speak with a qualified specialist service, like that at Bankruptcy Experts Geelong. But for now, let’s discuss overseas travel.
First and foremost, it is an offense to travel while bankrupt, as well as to make arrangements to set out without the written permission of your bankruptcy trustee. As pointed out the policies on this particular component of Bankruptcy are clear, and you can face an extension of your bankruptcy duration– or even face jail time upon conviction. Basically these regulations exist to keep someone who is facing insolvency from leaving the country. For the majority of individuals out there who, as an illustration have a local business in Geelong and have just made some poor judgments, this won’t be the risk, but the limits will still apply.
For example, we once had a client in Geelong who declared insolvency and a year later was unfortunately informed that their mother passed away in her home in England. Our customer, clearly distressed, took the next flight available to go and see her relatives. Nonetheless, this was in conflict of the bankruptcy conditions, and she truly faced some significant problems for exiting the country without permission.
In all honesty, if she had followed the procedure there would certainly have been no serious problem as a result of the circumstances, but rules are rules.
The process incorporating Bankruptcy and international travel is an option on the part of the trustee, but if you do not request consent you will find yourself in trouble– which is just among one of the commonly overlooked restrictions when it involves Bankruptcy. You should make sure that you are aware of as much as you can about Bankruptcy as early as possible given that only then can you seek to get the best decision for your case. I recommend that you make use of our free consult at Bankruptcy Experts Geelongon 1300 795 575. And if you have any other questions or concerns about international traveling or Bankruptcy, then also check out our website www.bankruptcyexpertsgeelong.com.au.