** Will I have to attend COURT?
September 29th, 2011 // 1:59 am @ Gae Channells
NO! Voluntary Bankruptcy is a little different from the normal bankruptcy. I prepare all the necessary Legal Documents from the information you provide me with and they, along with your proof of income, becomes your Formal Application. This application is signed and dated by you then sent to the Government Bankruptcy Trustee who take 1-2 [...]
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** Will I lose MY CAR if I proceed with voluntary bankruptcy?
September 27th, 2011 // 10:59 am @ Gae Channells
NO! In most cases you get to keep your car if it’s not over a certain value. You’re able to have equity in a car of $7050 which means that whilst it may be worth $20000, if you have a loan with $15,000 owing on it then your equity is just $5000 and whilst ever [...]
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** How much can I earn whilst I’m bankrupt?
September 27th, 2011 // 10:23 am @ Gae Channells
It just depends on how many dependants you have – see amounts below. This is called the Income Threshold. If you earn over this amount, then you will be required to pay 50 cents in every $1 that you earn OVER the Threshold to the Bankruptcy Trustee during the 3 years of your bankruptcy. The [...]
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