For many people, the processes surrounding Debt Agreements, Debt Negotiations and Bankruptcy are quite involved, stressful and surrounded by laws and regulations. The everyday person will not have the time or the understanding to research this ‘minefield’ of regulations in order to ensure that they do not incur penalties or fines.
A bankrupt can also get their bankruptcy extended from three (3) to five (5) or even eight (8) years in certain circumstances. Movement outside Australia can be prevented by forcing the surrender of your passport in the most extraordinary cases.
If you have to go bankrupt, you can put yourself at ease by using the DebtFreedom “After Bankruptcy Service”. This service allows you to contact us, for the period of your Bankruptcy. We will answer your questions and assist you with any correspondence to minimise the risk of penalties or fines, or your bankruptcy being extended.