Bankruptcy Law Questions? Ask a Bankruptcy Lawyer Now.
What country has the debt been incurred in?
What sort of debt is it? (credit card, property, business?)
What value are we referring to?
Do you have the capacity to enter into any repayment arrangement, even if it takes up to 3 years to clear all, or part of the debt?
The debt is in United States.
Some credit card debt and some private student loan debt.
Total debt with cards and loans $140,000 U.S
Difficult for that person to make payments to a few different institutions, maybe part of the debt, if able to consolidate into one loan one payment.
What are some other ways to pay off debt from Australia and can that person file bankruptcy from Australia with debt in United States while living in Australia?
Thank you for the additional information, one final question, is this person an Australian or US Citizen? I may need to refer the question to the US based experts for in Australia you can only declare bankrupcty for Australian based debt, not US.
I will need to transfer this question to the US Bankruptcy Law section, although an Australian citizen the debt has been incurred in the US and they may require that the person lodge bankrupty proceedings in the US, as Australia would require it if the person was based overseas.
Secondly, there may be some alternate options other than bankruptcy, we have personal insolvency agreements (Part IX and X) here in Australia which are negotiated with creditors for part of the debt.
I will transfer now, someone should be with you in due course, no need to reply.
Bankruptcy is the last resort.
Can you give me a name of a lawyer here in Australia, Western Australia so that that person can get information on personal insolvency agreements (part IX and X) and what is involved if deciding to go with the agreement?
I am Perth based, and yes, I understand bankruptcy is a last resort. The personal insolvency agreements only relate to Australian based debt, you can not use these agreements for overseas based debt for the local trustee here can not administrate overseas creditor debt agreements for you, that is why I have referred the question to a US lawyer, "socrateaser", who will be with you once your question is shifted across, please be patient, we will assist soon.
Thank you for your help so far.
It seems like a complex situation that the person is in and I would like to be able help in passing on some legal advice to that person.
DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.
The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).