Insolvent – What Does Insolvency Mean

To be insolvent means that you are unable to pay your debts when they fall due. When a business finds itself in this situation, it is unable to pay its bills when they are due The rest of this article will refer to individuals who are can’t pay their bills when due. There is a…

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Declaring Bankruptcy To Take Back Your Life From Debt

Is this your situation?  You are no longer able to pay your bills as your income is not sufficient to service the debt  Creditors are calling you or sending letters and demanding their money, and  You are worried about where all this is leading. There are many reasons why you might find yourself in this…

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What is a Trustee in Bankruptcy?

A trustee in bankruptcy is effectively an officer of the court who plays an important role in the administration of estates. Bankruptcy Trustees also have legal obligations that are set out in the Bankruptcy Act 1966. This includes investigating issues to do with estates and to perform certain tasks in that regard. These obligations are…

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