FAQs | What Happens When You Become Bankrupt?
It’s hard to do your job and make a living if you don’t have the right tools and your trustee will do what they can to help you keep them so you can make money and start saving.
You can keep tools with a total combined auction value up to the statutory threshold amount currently . If your tools are worth more than $3,800 auction value, you may be able to have a family member pay the excess amount to your bankrupt estate for you to retain the use of your tools. If you need advice on how to keep the use of all your tools, give us a call on 1300 060 122 or email email@example.com and we will discuss what can be done to help you.
Nicholls & Co have a complementary ‘help desk’ to answer your questions on bankruptcy. Call Nicholls & Co on 1300 060 122 or email firstname.lastname@example.org.