NSW Bankruptcy Discharge Reduced to One Year?

[Toma]

Hello,

I was wondering if anyone lately heard about bankruptcy discharge being reduced to one year.

How likely and when will it be introduced?

Thanks

 

[Debtsol]

Yes, it’s proposed to change to 1 yr it’s still before parliament. It’s probably at least 12 to 18 months away of being real law.

 

[Scruff]

You can apply for early discharge after six months. I did it years ago. Filled out a form, lodged it, got discharged no questions asked. (And that was all on the advice of a free financial advice service.)