Trustees in Brisbane
Do you need a Trustee in Brisbane?
Do you live in Brisbane and need to find out more about Trustees?
Insolvency Guardian can help you to understand what a Trustee does and how a Trustee is appointed. The Australian Financial Security Authority (AFSA) will perform these duties if you don’t want to appoint a private Trustee.
A bankruptcy lasts for three years but it is possible to prematurely end your bankruptcy with a section 73 proposal. A Trustee will present your section 73 proposal creditors and if the creditors are happy with the proposal they can accept it, annulling the bankruptcy.
Many Brisbane residents have used section 73 proposals to end their bankruptcy before the three year period has elapsed. Insolvency Guardian has helped many Brisbane residents to formulate a section 73 proposal that has been beneficial to the bankrupt individual and their creditors.
A Trustee is in charge of making investigations into the estate of a bankrupt to examine their financial affairs. The Trustee will examine the estate to ascertain if any invalid transactions have been made, for example the Trustee transfers and/or transactions made as preferential payments.
A Trustee has the ability to report their findings to the Australian Financial Security Authority (AFSA). The Trustee will conduct all investigations in an unbiased manner in order to gather an accurate value of the bankrupt estate. After the Trustee has established the value of the bankrupt estate they will make appropriate distributions to creditors to satisfy their debt.
Call Insolvency Guardian on 1300 60 70 60 to find out more about Trustees in Brisbane