Jenny, when served with the Statement of Claim, provided it to her husband who reassured her that “it will be taken care of.” The husband failed to meet the demands of the creditors and failed to file a defence to the Statement of Claim. [...] 8.1 Increasing the bankruptcy threshold Question 1: Do you believe that any of the current economic circumstances have the capacity to inform the policy setting for increasing the default bankruptcy threshold to $20,000? Please expand on your response Question 2: If you do believe that any of the current economic circumstances have the capacity to inform the policy setting for increasing the defau. [...] Many of our clients are not aware of the debts in their name, most have no access to information about the original liability and some may not be able to access the right advice at the right time to avoid bankruptcy and the lifelong impact it can have on their employment, housing and participation in the economy, increasing a person’s reliance on government support. [...] In our experience, the proposal to increase the period to 28 days will be inadequate for victim survivors of family and domestic violence because receiving a bankruptcy notice can be the first time a person is aware of debts in their name and the previous court proceedings against them. [...] However, perpetrators of family violence often exploit the system to the detriment of the victim survivor who is left bankrupt, has no standing in the Family Court, and often loses their home, while the perpetrator is able to seek priority over the property vested in the trustee.
- Pages
- 13
- Published in
- Australia
Table of Contents
- Submission in response to the Personal Insolvency Discussion Paper 1
- Table of Contents 3
- 8.1 3
- 8.2 3
- 8.3 3
- 8.4 3
- 8.5 3
- 8.6 3
- 2. Recommendations 4
- Recommendation A Increase the threshold for bankruptcy to 50000 immediately with no transition period. 4
- Recommendation F Amend the Cth to allow a bankrupt spouse or de facto to have standing to seek an adjustment of interest with respect to property. 4
- Family Law Act 1975 4
- 3. Introduction Redfern Legal Centre 5
- RLC FAS DFV 5
- 4. RLCs Financial Abuse Service NSW 5
- 5. Financial Abuse 6
- 6. Incidence and prevalence of financial abuse 6
- 7. Personal insolvency and financial abuse 6
- Jennys story 7
- 8. Response to Personal Insolvency Discussion Paper 8
- 8.1 Increasing the bankruptcy threshold 8
- Recommendation A Increase the threshold for bankruptcy to 50000 immediately with no transition period. 9
- 8.2 Increasing the period for a debtor to respond to a Bankruptcy Notice 9
- Recommendation B Extend the timeframe to respond to a Bankruptcy Notice from 21 days to 60 days or a minimum of 45 days 10
- 8.3 Reducing the permanent record on the National Personal Insolvency 10
- Index 10
- Question 8 Would a reduced record period of seven years on the NPII for bankruptcies benefit debtors Please expand on your response. 10
- Bankruptcy Regulations 2021 10
- Recommendation C A persons listings on the NPII should be completely removed two years from discharge from bankruptcy. 10
- 8.4 Removing NPII listings for successful annulments 10
- Recommendation D A persons listings should be completely removed from the NPII within 28 days of the date their bankruptcy is annulled. 11
- 8.5 Removing NPII listings for creditors petitions 11
- Recommendation E A creditors petition dismissed by the Court should not appear on the NPII. 11
- 8.6 Bankruptcy and Family Law property orders 11
- Family Law Act 1975 Exposure Draft Family Law Amendment Bill No. 2 11
- Family Law Act 1975 Exposure Draft Family Law Amendment Bill No. 2 2023 12
- Jillians Story 12
- Louisas story 12
- Recommendation F Amend the Cth to allow a bankrupt spouse or de factor to have standing to seek an adjustment of interest with respect to property. 13
- Family Law Act 1975 13
- 9. Conclusion 13
- Family Law Amendment Bill No. 2 2023 13
