Have you recently been served with a bankruptcy notice or creditors petition?
Or perhaps you are suffering financial difficulty and require bankruptcy advice from qualified bankruptcy lawyers.
Either way, the bankruptcy lawyers at Quinn Lawyers can assist you in all areas relating to bankruptcy. We understand that people facing bankruptcy can feel trapped, and offer 4 convenient locations around Sydney to meet with our bankruptcy lawyers.
The facts surrounding bankruptcy can sometimes be confusing. To makes things easier, we have listed some frequently asked questions:
- There is no minimum amount you need to owe before you can go bankrupt.
- There is a seven day ‘cooling off’ period if you change your mind.
- Once bankrupt, the period last for three years from the date of filing.
- You are responsible for all debts incurred after the bankrupt period finishes.
- Your bankruptcy can be annulled by your bankruptcy trustee after certain requirements have been met.
- Your name will be listed as being bankrupt for seven years from the start of your bankruptcy, and this will most likely affect your credit rating.
Before jumping to conclusions, it’s worthwhile speaking with our Sydney bankruptcy lawyers to consider all your options. In some cases, you may be able to avoid it entirely.
The Quinn Group is an integrated legal, accounting and financial planning firm and can provide assistance and advice on a range of matters. For more information on how our firm can look after your taxation, accounting and legal firms call us on 02 9223 9166 or submit an online enquiry here and we will get back you you shortly.