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Posted by trapped-kiwi 9 years ago.

Bankruptcy

Hi all, I'm a from NZ, living in Australia and I'm very close to completing my bankruptcy with Kristina who has been very helpful with the process. For those who have completed the bankruptcy through Kristina - can you tell me how your joint accounts (if any) were affected? Kristina has advised that anything over $1000 NZ will be at risk. I understand that I am unable to save during the bankruptcy, but as a contractor, I'll need more than $1000.00 in my account. Sydney is expensive, and there have been months where I have been without work in the past. A cap of $1000.00 would make life very difficult, not only for periods of unemployment, but for unexpected bills. For example, last year I had an operation on my leg for over $2000.00. Would this be seen as "savings" by the OA? Therefore, just how much is deemed "too much". $10,00? $30, 000? etc? How is this assessed, and how regularly would this be monitored? Annually, monthly or adhoc? Thanks for your advice.

2 replies, the latest on 05 October 2021.
Reply from undecided-and-confused 9 years ago.

Hi Trapped Kiwi,

Would be interested to know if you have an answer for this yet? Have you completed your bankruptcy? What did the OA do?

Reply from latte 2 years ago.

Hey there, I would be really interested to know the outcome here given I am also a contractor - Is there any help you can provide?

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