Recent floods have devastated many areas in Queensland and New South Wales, impacting thousands of Australians.
Insolvency practitioners may be administering the estates of bankrupt people who are affected by these floods. The impacts will be various and may include disruption of, or loss of work or income, loss or damage to accommodation, relocation expenses and restricted ability to communicate.
AFSA expects practitioners to act with extra sensitivity and empathy in the current circumstances, taking into consideration the impact of the floods on bankrupt people and other parties, including creditors.
Financial support is also available for people in areas that have been declared a disaster, more information is available on the Services Australia website. The National Debt Helpline (1800 007 007) can also provide information and support to those facing financial hardship.
During this difficult period AFSA is committed to working as flexibly as possible with those who require our services who have been affected by the floods. This includes, amongst other things, an ability to defer certain activities to ensure obligations of bankruptcy do not create an additional burden at what is already a difficult time.
If you need assistance or have any questions, please contact us on 1300 364 785.