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Rai A
Lv 7
Rai A asked in Business & FinancePersonal Finance · 1 decade ago

i want to know if one can save up money for moving to another city in australia during bankruptcy?

1 Answer

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  • Bunge
    Lv 7
    1 decade ago
    Favourite answer

    Of-course you can, once you have been declared bankrupt, you can only own a car under $10,000, I remember that, and you have other various stipulations put upon you, that will be all in the information you receive from the insolvency company that declared you bankrupt...

    I went bankrupt about 4 or 5 mths after my wife betrayed me and I saved some money and they couldn't touch it...Look at it this way, you are bankrupt and you save, how can you be made to pay them back 1 cent when another person who doesn't save, pisses all his/hers money away and have nothing at all at the end of the week...No they cannot make you give them money just because you save yours up for anything...That would be like saying, give me X amount of your pay, which is not something they can do legally or they would have made you do it when you became insolvent...

    Hope that helps to ease your mind a bit...

    )O(

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