Insolvency Advice Melbourne– how travel can get you in trouble.

One thing that most people don’t understand when they take a look at Insolvency Advice is that it is able to actually prevent you from taking a trip overseas. This is one particular thing that many people forget, and it can in fact get you in a lot of trouble.

imageIf you are facing Bankruptcy then traveling is probably one of your lesser concerns– but it is still important to keep in mind. However if you are right now more worried about assets, your house, your home, and what they will likely leave you with, then I would wholeheartedly recommend you make the most of our free consultation at Bankruptcy Experts Melbourne on 1300 795 575.

But I want to explain to you here a bit about some of your obligations and restrictions that are placed upon you when it relates to Insolvency Advice. Now don’t let any of this stop you from taking a look at Insolvency Advice, because it is ultimately often the smartest decision to make, but I want you to be mindful of all the circumstances that can affect you.

So firstly, when it comes to Insolvency Advice you should know that once you declare bankruptcy you are to be deemed a bankrupt until it concerns an end following discharge or annulment. This will typically 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 Melbourne. For now, let’s explore overseas travel.

To begin with, it is an offence to travel while bankrupt, or even to make preparations to travel without the written consent 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. Mostly these regulation exist to prevent someone who is facing bankruptcy from fleeing the country. But for most people out there who, for example have a small company in Melbourne and have just made some poor judgments, this won’t be the risk, but the limitations will still apply.

For instance, we once had a consumer in Melbourne 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 breach of the bankruptcy conditions, and she in fact faced some considerable issues for leaving the country without permission.

In all honesty, if she had followed the systems there would have been no serious issue because of the circumstances, but rules are rules.

The process surrounding Insolvency Advice and overseas travel is optional on the part of the trustee, but if you do not ask permission you will end up in trouble– and that is just one of the typically discounted restrictions when it comes to Insolvency Advice. You need to ensure that you comprehend as much as you can about Insolvency Advice as early as possible simply because only then can you attempt to make the best decision for your situation. I advise that you use our free consultation at Bankruptcy Experts Melbourne on 1300 795 575. And if you have any questions of concerns about overseas travel or Insolvency Advice, then also go to our website www.bankruptcyexpertsMelbourne.com.au.

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