Objection to Discharge from Bankruptcy

At any time before a bankrupt is discharged from bankruptcy, the trustee may file a written objection to discharge bankruptcy to extend the bankruptcy period.

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What is Bankruptcy?

Bankruptcy is a process where people who cannot pay their debts give up their assets and control of their finances, either by agreement or court order, in exchange for protection from legal action by their creditors.

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What is the PPSA?

Background to PPSA
The Personal Property Securities Act, commonly called the PPSA, now regulates personal property security interests in Australia. Before its implementation in 2009 there were over 70 pieces of legislation throughout the federal and state governments which determined the rights of creditors and debtors. The myriad of legislation led to inconsistencies between the states as to how security interests would be created and enforced.

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Someone Who Owes Me Money Has Gone Bankrupt. Will I Be Paid What They Owe Me?

Any payment to you as a creditor (someone the person owes money to) will depend on the amount of money that can be obtained from the trustee in bankruptcy selling the assets of the bankrupt and from any money in the bankrupt

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