We are willing and ready to provide legal advices to our clients who are facing heavy debts and financial stress. We would provide solutions for their debt problems and inform their creditors in writing for ceasing debt recovery actions upon the filing of bankruptcy petitions.
Important Matters
- Generally upon filing the bankruptcy petition with the court, the applicant’s bank account(s), including joint account(s), and bank safe deposit box(es) would be frozen.
- In the four years of bankruptcy period, the bankrupt shall only hold one saving account.
- Trustee on bankruptcy would usually not allowing bankrupt to continue pay for life insurance installments.
- Unless there are good reasons, the bankrupt should not take taxi.
- All bankrupt’s income, after deducting reasonable family expenses, shall be used for repayment of debts.
- The bankrupt may travel to other countries, but all costs shall be paid by others.
- Upon submitting the bankruptcy petition to the court, the bankrupt shall not make any new debts.
- If there are any changes in name, phone number, and/or address, etc., shall notify the bankruptcy trustee immediately.
- If the bankrupt and his/her spouse jointly owned any property, the bankruptcy trustee may usually sell the said property and repay the debts by the bankrupt’s part of shares over the said property.
- In the four years of bankruptcy period, the bankrupt shall not hold any position as company director.
- Annual financial reports shall be submitted to the bankruptcy trustee, or else could be prosecuted.
- Civil servants’ may submit applications to the Civil Service Bureau to apply for special payment for his or her daily living expenses.