Tomakin · Debt & Bankruptcy

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Top Tomakin Debt & Bankruptcy Questions

Common legal questions answered by Debt & Bankruptcy lawyers.

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Q
Can I travel overseas if I am bankrupt?

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You can travel overseas while bankrupt, but you must obtain written permission from your trustee.;Failing to get permission can result in penalties, including extending your bankruptcy period.

Q
What is the difference between a sole trader and a company?

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A sole trader is an individual running a business, while a company is a separate legal entity owned by shareholders.;Sole traders have unlimited liability, whereas companies provide limited liability protection to the...

Q
How can parents address bullying in schools?

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Parents can first address the issue with the school's administration and request an investigation.;If the issue persists, they can escalate the matter to the education department or seek legal advice.

Q
How does bankruptcy affect credit rating?

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Bankruptcy significantly impacts your credit rating, making it difficult to obtain credit in the future.;The record of bankruptcy remains on your credit report for up to five years or longer in some cases.

Q
What should I do immediately after a motor accident?

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Ensure everyone's safety, call emergency services if needed, and exchange contact and insurance details with the other driver.;Document the accident scene with photos and take notes of any relevant details, such as we...

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