Can I Travel Overseas If I’m Bankrupt?
It is not uncommon for us to receive queries about Travel Overseas if Bankrupt and the rules of engagement when the insolvent party requires international travel. We always help guide all our clients on all the acceptable and preferably avoidable aspects that international travel could hold during the Bankruptcy process.
Overseas Travel Application
Often clients will ask if they will be permitted to Travel Overseas during their Bankruptcy process. The answer is simple, yes, you may. However, there are some restrictions when you travel overseas.
You need to write the travel request to your appointed bankruptcy trustee, confirming any agreement about travel discussed with your trustee.
Things to Be Careful of When Requesting Travel Overseas if Bankrupt
Bankruptcy is legally mandated, and all parties must ensure that they follow due process throughout the entire endeavour. This will also include not creating enmity. Examples of travel-related instances that may raise suspicion or discomfort between the debtor and the Trustee could consist of the following:
Travel to Unusual Destinations With No Clear Agenda.
If you are travelling to an unusual destination, your Bankruptcy Trustee or other aggrieved parties will raise a red flag concerning the true intent of your travel. Especially when travelling to countries considered offshore tax havens. It is in your best interest to avoid bringing any doubt into the process.
What Can Stop You From leaving Australia
Moving or Hiding assets
If you own property overseas and have bank accounts in your name, it might raise suspicion if you go there with no apparent business or family-related objective. It could be seen that you are trying to avoid paying your creditors.
Travel For Non-Essential Purposes
As much as you are encouraged to continue living a full life while the trustee assists you in getting your financial affairs back to normality, you will be expected to live within reasonable means. Travelling abroad for birthdays, social engagements, and weddings could be considered wasteful.
Travel During Key Court Dates related to Bankruptcy.
If court dates or arbitration sessions are scheduled for whatever reason, your attendance, if required, takes top priority. If your travel arrangements are not crucial, there will be little appetite to entertain any rescheduling of essential appointments.
Don’t Forget. The Trustee Is Allowed to Say No.
Just remember that the trustee appointed is there to work according to what the law states and the expected protocol. Your trustee will always try to be fair, but they can decide what can stop you from travelling overseas. The trustee is, therefore, an objective outside party appointed to perform one function: to follow the law by processing a Bankruptcy process in the most effective way possible, including the aspect relating to Travel Overseas if Bankrupt.
If the trustee wishes for you to remain in the country for whatever reason, you must accommodate this as much as possible. Failure to do so could question your credibility as an insolvent party protected by the Bankruptcy Act.
The Trustee has the capacity to place an alert with the Department of Immigration that when the alert is raised, Federal Police will become involved and take you to a holding cell until contact has been made with the Trustee. This can be particularly embarrassing but can be easily avoided by obtaining the Trustee’s permission before travelling.
Travel Related Journeys That Are Considered Favorably
Suppose travel abroad means that you will be able to derive an economic benefit. In that case, it stands a greater chance of receiving support as it could contribute to the return to creditors.
“When can we travel overseas during Bankruptcy is a common question we get asked. While Travel Overseas if Bankrupt is possible, we don’t encourage it unless it brings benefits to all parties. We’ll work to find the best solution and balance for you regarding international travel within the framework of the law.”
Get a complimentary first consultation by calling 1300 887 210. We can help you with questions about travel during Bankruptcy.
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