Relax, you’re speaking straight to the Registered Trustee—your expert and decision-maker, not a middleman.
At SP Insolvency, We handle all aspects of personal insolvency, including administering bankrupt estates, personal insolvency agreements, and debt agreements.
If you are facing financial difficulties and need expert guidance, look no further than
SP Insolvency.
One of the key benefits of working with SP Insolvency, you won’t be passed off to an employee when you want to the speak to the Registered Trustee.
”I have had many people give me compliments or good reviews as I genuinely try to assist people. I have a lot of experience and don’t always charge for my services. 99% of my work to date has been from work referred to me.”
If you are here, this option is probably no longer available.
Surprisingly the preferred option for many, once they overcome their fears. You will not necessarily lose your house.
A formal arrangement with creditors that requires a Registered Trustee.
Another formal arrangement with creditors.
With extensive experience in bankruptcy and personal insolvency, we offer customized solutions to get back on your feet.
Not necessarily and many people don’t. A typical example is the following. John and Mary are married. They own a house. John has to file for bankruptcy. The equity in the house is limited. The bankrupt estate owns half the limited equity. Under those circumstances I have given many people like John and Mary the opportunity to come to an arrangement to pay off the bankrupt estate over time. It all depends on the numbers, as they
say.
Not necessarily and in fact rare. A bankrupt is entitled to one car up to a certain value. In the vast majority of cases I have been able to come to an arrangement to pay off the bankrupt estate over time.
A bankrupt needs written permission to travel overseas for a legitimate reason. A legitimate reason includes visiting family, for work and even for a holiday. I have even given permission to a bankrupt to live and work overseas.
No almost without exception. There are for example some professions where a person will have to “show cause”. For example, a solicitor might have to explain to the Law Society the reasons for bankruptcy and generally it is not a problem although some restriction might be applied such as being prohibited from operating a trust account.
As Trustee I have the power to close a savings account but have never done it. I have also left a reasonable amount of cash in the savings account for living expenses until the first pay cheque in bankruptcy. Please note however that if the bank itself wants to close your savings account it can. But I only once have ever seen it happen. In every other case where the bank considered closing a savings account, it contacted me and sought my opinion. Also please note that a credit card account is different as most banks will close credit card accounts but not always.
Your credit file will be affected for 5 years. Then it will be wiped clean. For many people in financial trouble who want to buy a house it will take them that long to save for a deposit in any case. And so it is not all bad news.
This is very rare. High income earners are required to pay some of their wages into the bankrupt estate. How much they can keep is generous and designed so that they have a reasonable lifestyle. How much they can keep also depends on their circumstances such as the number of their dependants.
The Trustee will contact creditors but very few others. For example, I will write to your employer for information about your income but only if you do not cooperate by providing it.
This is concern for tradies and professionals who work for themselves. There is no restriction on working for yourself. However, there is a restriction on the use of a business name.
Yes. A bankrupt is entitled to a reasonable amount of household furniture.
Yes. A bankrupt is entitled to keep tools for work up to a certain value. If the tools exceed that value, I have always been able to come to an arrangement to pay off the bankrupt estate over time.
We specialize in crafting tailored personal insolvency solutions that suit your circumstances.
I make myself available 24/7. Many people appreciate that because they cannot talk during working hours about their personal insolvency issues.
Trustindex verifies that the original source of the review is Google.Amo Mearanof2024-09-30I had to use Sam services for some personal issues he was very knowledgeable and helpful will recommend him to all my friends.Trustindex verifies that the original source of the review is Google.Keith Levy2024-07-18Sam really knows his stuff, his knowledge, advice and understanding is second to non, I would highly recommend Sam when dealing with Trustee matters, not only that but his broad knowledge is boundless, Sam gets people, and was very helpful to myself and family, you won’t find a better person to assist you when times are tough.Trustindex verifies that the original source of the review is Google.tony hughes2024-07-16The people at this firm are second to none. I had a serious problem with my financial situation, they just could have just taken my money and moved on. But they helped me over and above anything I expected. They were so much help. And helped me clear my problems with very little fuss. Thank you so very much I recommend them 100% cheers guysTrustindex verifies that the original source of the review is Google.Shan Bhutta2023-02-01Highly recommend Sam was very helpful and informative during the whole processTrustindex verifies that the original source of the review is Google.Adam Busuttil2022-12-21Although Sam is a bankruptcy officer….I couldn’t have found a more compassionate and easier person to deal with….saved my life to be truthful.Trustindex verifies that the original source of the review is Google.Peter Dart2022-12-04Very informative and professional.Trustindex verifies that the original source of the review is Google.Scott Broadbent2022-12-04Well I wouldn't have thought a trustee would actually be helpful, I was expecting to get a hard time. Not so, Sam was helpful, understanding, informative, and actually provided a lot of support and help through the process.Trustindex verifies that the original source of the review is Google.George Tsig2022-12-02Very very good to deal with I was bankrupt sam made it a very easy to deal with he treated me very good and made my experience off being bankrupt so much easier to deal with in all honesty his greatTrustindex verifies that the original source of the review is Google.Robyn Hitchcock2022-12-02I cannot speak highly enough of Sam great communication, very supportive I highly recommend you take the time to chat with SP Insolvency .
Have any questions or need assistance? I am here to help! Call me or send me a text message. Or fill in the form and I will get back to you very soon.