TEMPORARY RELIEF
I need more time to consider my options
If you need time to consider what your next step will be, but the creditors are threatening with enforce recovery of unsecured debts, this includes garnishing your wages.
Then a declaration of intention to present a debtor’s petition (DOI) may suit you.
What happens when a DOI is lodge?You receive protectionIt provides a 21 day protection period where unsecured creditors (including sheriffs) can’t take further action to recover their debts.
It is not recorded on the NPII
The details of your DOI do not appear on the permanent National Personal Insolvency Index (NPII).
You are not made bankrupt
It doesn't automatically make you bankrupt. After 21 days, if you decide to not enter bankruptcy, creditors can continue to pursue you for the debts.
Your goods can still be repossessed
It doesn't stop a creditor from repossessing goods, if you can’t make repayments, for a secured debt.
Creditors can use it to bankrupt you
A creditor can use the fact you have lodged a DOI to apply to the court to make you bankrupt.
If you need time to consider what your next step will be, but the creditors are threatening with enforce recovery of unsecured debts, this includes garnishing your wages.
Then a declaration of intention to present a debtor’s petition (DOI) may suit you.
What happens when a DOI is lodge?You receive protectionIt provides a 21 day protection period where unsecured creditors (including sheriffs) can’t take further action to recover their debts.
It is not recorded on the NPII
The details of your DOI do not appear on the permanent National Personal Insolvency Index (NPII).
You are not made bankrupt
It doesn't automatically make you bankrupt. After 21 days, if you decide to not enter bankruptcy, creditors can continue to pursue you for the debts.
Your goods can still be repossessed
It doesn't stop a creditor from repossessing goods, if you can’t make repayments, for a secured debt.
Creditors can use it to bankrupt you
A creditor can use the fact you have lodged a DOI to apply to the court to make you bankrupt.
Contact one of our friendly consultants.
|
Or Call
|
Services
We will recommend the best option for you based on your circumstances.
We do all the paperwork for you, so you do not have to fill in any forms.
We work around your schedule.
To make it as easy as we can for you.
We work around your schedule.
To make it as easy as we can for you.