Nicholls & Co
Accounting in Lismore

Different bankruptcy, the legislation does not provide for the amount of income the debtor can retain to ensure essential needs can be provided for. This can result in people over committing and having insufficient income to meet daily needs, causing persons to remain under financial pressure with all the negative consequences that may evolve from same. The legislation does not bear a limit for the period a Debt Agreement or BIA is to remain in force for. This can result in the proposed Debt Agreement or BIA going for a longer period than the 3 years of bankruptcy. A Debt Agreement and BIA do not bear the debtor with a release from his or her liabilities until finalized. I have received the certificate of discharge. Thank you all for the assist to resolve this matter. It enables persons to earn and retain enough income for them to be able to provide for themselves and their family. Bankruptcy protects the essential needs of a person, enabling life to go on, Be household furniture and effects, motor vehicle to auction value of 7,500 etc. Monies can be saved during bankruptcy provided they are kept in a bank account (can not be held in shares, managed fund etc). Bankruptcy is not advertised in the newspapers. Overseas travel for work or holiday is available, provided you first gain the Trustee’s consent. The principal, Alan Nicholas has been occupied in the specialist field of insolvency accounting since 1978. Nicholas Co have important resources and experience. The Nicholas Co team exceeds 30 persons and have over 130 years combined experience. Nicholas and Co welcome questions from persons who are experiencing financial problems and also from solicitors and accountants, calling on behalf of their clients. Nicholas Co are country based and work to administer bankrupt estates providing polite, respectful and honorable service to aid persons to deal with extreme financial problems. At Nicholas and Co we promote a balanced life. Away from work the principal, Alan Nicholas spends as much time as plausible with his family. Alan’s best relaxation is cycling running with his kids and talking about anything that happens to be the conversation at the time.