Australia (PRWEB) August 26, 2017
Bankruptcy Experts, the leading insolvency/bankruptcy services providing company in Australia is now looking to assist their clients, residing overseas as well as in remote locations, by providing them with quality bankruptcy advice and solutions. As experts in the field of bankruptcy advice and consultancy, the company will aid clients in taking better control of their financial situation and also identify whether declaring bankruptcy is the apt solution to their current situation or not.
Sharing further details about their services, a company spokesperson clarified, “Bankruptcy is generally viewed as a last resort primarily due to the stigma and shame associated with the idea of filing for insolvency. At Bankruptcy Experts, we are now looking forward to serve our clients in remote locations across the country by providing them with quality bankruptcy advice through our confidential telephone and email services. We’ll help our clients in filing for bankruptcy without the need for paying any extra charges.”
Bankruptcy Experts have been at the forefront of assisting Australians struggling with their finances by helping them in becoming debt free. The company has helped several clients file for bankruptcy without worrying about losing their personal assets.
Throwing more light on the facts related to bankruptcy the spokesperson at Bankruptcy Experts further reinstated, “Businesses and individuals must acquire quality advice and information when considering bankruptcy. However, there is plenty of misinformation about bankruptcy, which is currently being circulated both online as well as in the neighbourhood. We are looking to highlight a few important facts related to insolvency that would further help individuals in making an informed choice.”
The spokesperson further clarified that many individuals are under the impression that bankruptcy lasts for three years. While this may be true, one can also get their bankruptcy period extended to five or even eight years, especially in cases where the trustee is unable to acquire the requisite information from the bankrupt party or individual during the first three years of bankruptcy. There are several reasons bankruptcy may be extended. In some cases, it could even be due to one not filing important or required paperwork as they go bankrupt.
Another fact associated with bankruptcy is that the individual may lose all his/her assets as and when he/she files for bankruptcy. However, one loses only a few assets during bankruptcy and continues to retain their household furniture and other general household items. Additionally, an individual may also lose his/her house if there is plenty of equity in the property. One may also lose their car if the vehicle’s value is more than $7,700. Apart from this, one’s business, if they are self employed, may also be viewed as an asset.
Individuals facing bankruptcy also assume that they may lose their business if they go on to file for bankruptcy. However, one needs to understand that the job of the bankruptcy trustee is to sell their assets and give their money to the creditors. In case of small business owners, the asset value of their business is what matters the most. People also believe that they may lose their house if they go bankrupt. However, this may not be the case every time. In fact often if there is little to no equity in the property then the client can keep the house as long as he/she keeps making the mortgage payment for their entire term of bankruptcy. Also, the bankrupt individual’s house will be re-valued at the end of three years and later he/she can make an offer representative of any capital gain incurred during the three year period to the trustee and acquire their house all over again.
Many individuals are also under the impression that they may lose their job if they file for bankruptcy. On the contrary, the fact is that there are only a couple of professions that one can’t pursue while going through bankruptcy. In fact, at times the restrictions in employment are applicable only when one is trying to get into the field rather than when they’re already employed. For more information about bankruptcy and to acquire expert advice on insolvency visit http://www.bankruptcyexperts.com.au
About Bankruptcy Experts
Founded in 2010 by Charles Bosse, Bankruptcy Experts is the premier provider of bankruptcy and liquidation services in Australia. The company offers services in more than forty locations across the country including cities such as Melbourne, Sydney, Adelaide, Gold Coast and Perth among others.
Contact Person: Charles Bosse
Phone: 1300 795 575