Due to the Covid-19 pandemic, a large number of people have debts they cannot pay. So, what are your options to solve your personal debt problems?
Success Story – Settlement of Guarantee Debt and Release of Caveat
We were referred a client to help him settle a guarantee debt owed to a financier, which totalled just over $30,000. The guarantee our client had signed with the financier contained a charging clause and the financier had used this provision to lodge a caveat over our client’s property.
Success Story: How We Helped Settle a Mortgage Shortfall Debt
We recently helped a family settle their mortgage shortfall debt with the mortgage insurer. This article explains how we did it.
Federal Government Warns of Dodgy Insolvency Advisers
The Federal Government has warned the public of potential dodgy insolvency advisers. These unregistered and unregulated advisers target vulnerable people who are in financial distress.
Bankruptcy Threshold Set at $10,000 Permanently
To ensure Australians in financial difficulty are not made bankrupt over relatively small amounts of debt the Bankruptcy Threshold has been set at $10,000.
Insolvency Appointments Declined Significantly Despite COVID-19
The Australian Securities and Investments Commission and the Australian Financial Security Authority recently released the statistics for insolvency appointments across Australia.
What to Do When Mortgage Repayment Deferrals End
It is clear that many people deferring loan repayments are not in a position to continue with mortgage repayments when the deferral period ends.
So, what can you do if you worry that you may not be able to continue with mortgage repayments?
Success Story: Settling a Mortgage Shortfall Debt with a Mortgage Insurer
Often when people take out a mortgage, their bank asks them to obtain mortgage insurance. But this doesn’t protect the borrower, it protects the bank. When a property is sold and there is a mortgage shortfall, the bank claims on the insurance policy and the insurer then chases the borrower for the mortgage shortfall debt.
Success Story: Settling a Mortgage Shortfall Debt with a Mortgage Insurer
When a property is sold and there is a mortgage shortfall, the bank claims on the insurance policy and the insurer then chases the borrower for the mortgage shortfall debt.
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