Applying for Bankruptcy - Nicholls Co

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Is my job safe if I become bankrupt?

Applying for Bankruptcy

Is my job safe if I become bankrupt?

FAQs | Applying for Bankruptcy From our experience, administering thousands of bankruptcies, it is very rare for a person to lose their job when they become bankrupt. If you have concerns regarding your employment, we recommend you check your employment contract, talk to HR and check registration requirements with your industry body. Some industry bodies …

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Undischarged Bankrupt

FAQs | Applying for Bankruptcy You are discharged from bankruptcy when your bankruptcy ends, normally 3 years and 1 day after you become bankrupt. During the period from when you become bankrupt till when you are discharged from bankruptcy you are an undischarged bankrupt. The provisions of the Bankruptcy Act must be adhered to while …

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Bankruptcy Notice

FAQs | Applying for Bankruptcy When a creditor wants to make you bankrupt, they will need to ensure that your debt to them is over $10,000 and not more than 6 years old. The creditor can then lodge a Statement of Claim with the court for recovery of the debt. If the court finds in …

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Bankruptcy

FAQs | Applying for Bankruptcy Bankruptcy is a legal process governed by the Bankruptcy Act 1966. Bankruptcy will protect you from your creditors and clear most of your unsecured debts. You are eligible to file for bankruptcy if you are unable to pay your debts when and as they fall due. You can file for …

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Debt Agreements and Bankruptcy

FAQs | Applying for Bankruptcy If you are in a Debt Agreement, you cannot file for bankruptcy without first terminating the Debt Agreement. Likewise, a creditor who is subject to the Debt Agreement cannot make you bankrupt whilst the Debt Agreement remains in place. If you are in a Debt Agreement and want to become …

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