Frequently Asked Questions

Will the bankruptcy trustee have access to my bank account?

No, you operate your bank account without the involvement of the Trustee of your bankrupt estate. The Trustee will operate a separate Trust bank account for the estate.

During your term at each yearly anniversary, your Trustee may ask for copies of your bank statements to assist with preparation of your income assessment. Whilst the Trustee does this work, you will not pay income contributions if your income does not exceed the required threshold amount, for you to be required to pay income contributions.

We are here to help. If you have any questions please give us a call on 1300 764 197 or email hello@understandingbankruptcy.com.au

Further Reading: We recommend our article 'Wages, Super and Spending'.

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