During the holiday season, many people travel overseas to visit their family and loved ones. However, if you are a bankrupt, there are certain conditions that you must adhere to. You will need to apply to your bankruptcy trustee and obtain permission before you travel.
Your trustee in bankruptcy may impose some travel conditions. The most common one is that you have paid or have made arrangements to pay any outstanding compulsory income contributions. Your trustee may also require a bond prior to travelling.
You will commit an offence if you do any of the following:
- travel overseas without permission from your Bankruptcy Trustee;
- travel beyond the destinations and dates that your Trustee approved; or
- don’t comply with any conditions that your trustee imposes.
It is important to understand the severity of the consequences if you fail to abide by your travel conditions. If you fail to return to Australia when directed by your trustee, your trustee can apply to the official receiver at the Australian Financial Security Authority to extend your bankruptcy.
If you would like to learn more about bankruptcy contact our friendly and professional debt advisors at Debt Free Australia for a FREE consultation. Call us on our 24/7 debt advice line on 1800 676 598.