Bankruptcy Advice from the Horse’s Mouth

What is a Part 4 Scheme/Composition?

A composition is an offer to creditors that is greater than they would ordinarily receive through the normal administration of your bankruptcy. The offer is required to be approved by creditors and any discretion regarding that approval is entirely that of the creditors, with the Trustee being limited to providing an opinion on whether the … Read more

How does bankruptcy finish?

You will automatically be discharged from bankruptcy three years and one day from the date of bankruptcy and the National Personal Insolvency Index (NPII) will be updated to show that you are discharged. If you have any questions on bankruptcy, call 1300 060 122 or email your question to, helpdesk@nichollsco.com.au and we will help you … Read more

What is the period of bankruptcy?

Three (3) years and one (1) day. If you have any questions on bankruptcy, call 1300 060 122 or email your question to, helpdesk@nichollsco.com.au and we will help you without charge or obligation. Remind us to also email our ebook to you. It has great content; we receive a lot of positive feedback.