Insolvency Advice Geelong– how travel can get you in trouble.
Something that some people don’t understand when they take a look at Insolvency Advice is that it can actually stop you from taking a trip internationally. This is one thing 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 still important to keep in mind. However if you are at this time more anxious about assets, your house, your home, and what they will leave you with, then I would wholeheartedly recommend you make the most of our free consult at Bankruptcy Experts Geelong 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 comes to Insolvency Advice. Now don’t let any of this stop you from looking at Insolvency Advice, because it is ultimately often the smartest decision to make, but I want you to be informed of all the scenarios 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 concerns an end due to discharge or annulment. This will usually be 3 years and 1 day after you file.
However! This may be longer if you break the rules. There are a multitude of them, so please do consult an expert service, like that at Bankruptcy Experts Geelong. But for now, let’s talk about overseas travel.
To start with, it is an offence to travel while bankrupt, or even to make arrangements to travel without the written permission of your bankruptcy trustee. As pointed out the rules on this part of Insolvency Advice 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 the majority of people out there who, for instance have a business in Geelong and have just made some poor judgments, this won’t be the risk, but the restrictions will still apply.
For instance, we once had a customer in Geelong 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 substantial issues for leaving the country without permission.
In all honesty, if she had observed the systems there would have been no serious issue due to the circumstances, but rules are rules.
The process surrounding Insolvency Advice and overseas travel is discretionary 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 frequently neglected restrictions when it concerns Insolvency Advice. You have to ensure that you understand as much as you can about Insolvency Advice as early as possible simply because only then can you try to make the best decision for your situation. I recommend that you make the most of our free consultation at Bankruptcy Experts Geelong on 1300 795 575. And if you have any other questions of concerns about overseas travel or Insolvency Advice, then also visit our website www.bankruptcyexpertsGeelong.com.au.