What happens after my bankruptcy ends?

When your bankruptcy ends, most of your debts are released[?] and you no longer need to pay them. However, there may be some debts that you still need to pay.

For more information see:  What happens to my debts when I'm bankrupt?

Your name continues to appear on the National Personal Insolvency Index (NPII)[?], showing your bankruptcy has ended.

Can I apply for credit?

There’s no restriction on applying for credit after your bankruptcy ends. It’s up to the credit provider to decide if they will lend you money.

You should be aware, however that your credit report[?] will continue to show your bankruptcy for either:

  • 2 years from when your bankruptcy ends or
  • 5 years from the date you became bankrupt (whichever is later).

For more information regarding your credit report, contact a credit reporting agency[?]. Information about credit reporting agencies is available at ASIC's MoneySmart.

Are there any employment restrictions?

The Bankruptcy Act 1966 does not impose any restrictions on employment, either during or after bankruptcy. However some trades or professions may impose restrictions.

We recommend you contact the relevant agency or association to see if your bankruptcy will impact your employment. Common professions that bankruptcy may affect are listed under employment restrictions.

Can I travel overseas?

Yes. You no longer need your trustees’ permission to travel overseas when your bankruptcy ends.

Do I need to keep in contact with my trustee?

Normally you don't. In some cases, your trustee continues to manage your bankruptcy, even after it has ended. For example, your trustee has claimed your house as an asset and they haven’t sold it yet.

Your trustee may still request you to:

  • provide information about your financial situation
  • make any outstanding compulsory payments[?].

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