VOLUNTARY BANKRUPTCY

E.DISCHARGE. PART 1 OF 6.

DISCHARGE means your bankruptcy has ended and you are no longer bankrupt.

WHEN WILL I BE DISCHARGED FROM BANKRUPTCY?

If you become bankrupt because your presented your own petition, you will be discharged automatically three years and one day after you filed the petition and the Statement of Affairs with the Insolvency and Trustee Service Australia.

If one of your creditors made you bankrupt, you will be discharged automatically three years and one day after your completed Statement of Affairs is filed with Insolvency and Trustee Service Australia. It is important to lodge your Statement of Affairs with Insolvency and Trustee Service Australia promptly as any delay can mean you will be bankrupt longer than three years.

In some cases, you can be bankrupt for longer than three years. This happens when your trustee lodges an objection to our discharge with Insolvency and Trustee Service Australia.

NOTE:

The date of discharge is three years and one day after the Insolvency and Trustee Service Australia have obtained and excepted your Statement of Affairs.
NOT the date you sign your Statement of Affairs.