Declaring NZ bankruptcy while living in Australia
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.
Hi - from what I gather, they can request a statement from you at any point. But it's not actually monitored as such - as for the NZ Govt to get access to your AU bank accounts they'd need to go through the courts.
I'm just about to go down the same route, before the IRD gets a chance to ruin my life... Has your credit score etc been effected in any way in Australia? And if you've got a car, which you probably do given you're a contractor - are you OK to keep it?
hey, i would like to know if Kristina fees to start off with, as i am looking at going bankrupt in nz however me and my other half are in the black to the tune of 100 to 110k nz, the other half get paid monthly and it is well over 1k and i am weekly, as you said it is not cheap living in syd, childcare is $840 every 2 weeks, rent is 500 a week than food car rego, phones internet foxtel fuel opal cards cloths etc i am looking for more info thanks!!!
Hi Can someone please tell me if I go bankrupt in nz can the OA reposses my household here in oz? We have 100k debt in NZ and have been trying to pat it but not able to any longer, can the collection agency in NZ take me to court here in Oz ?
Hey There - I am a kiwi living in AUS - I am bankrupt - I want to apply to "possibly" go home for Xmas but wanted to know the process that you need to go through & what they require from you in order to apply and get approval?
Also, what happens if you are earning more money now than when you went into Bankruptcy?