Bankruptcy

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Bankruptcy

By Debt Recovery Qld (30+ days ago)

Bankruptcy may be the best option to enforce a judgment in some circumstances.

If you are dealing with an experienced debtor (who is a person, not a company), then they may have taken steps to avoid having their assets seized and sold to satisfy a judgment or Court order.

It is quite common for a debtor to attempt to dispose of property or other assets during the debt recovery proceeding so they don’t have to fulfil their obligation to you – transfer to partner for example.

In instances of this nature, enforcement proceedings through the court may not yield and results you want, and might be expensive and frustrating.

We recommend serving your judgment debtor with a bankruptcy notice.

Then, if they do not do what they are obliged to do under the bankruptcy notice, making an application for a sequestration order forcing them into bankruptcy.

Bankruptcy may be the best way to enforce your judgment debt against your debtor


Related Categories

Bankruptcy - creditors petition - bankruptcy notice - bankrupt

Contact Debt Recovery Qld
28 Eenie Creek Road, Noosaville, Qld 4566, Coolum Beach, Queensland, 4573, Australia
phone: 1300 545 133 fax: 07 5430 6677
https://debtrecoveryqld.com.au/
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