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.
Success Story: Negotiating A Payment Arrangement With The ATO
Throughout the years, we have assisted a number of individuals that were audited by the ATO, resulting in large tax debts including GIC and penalties. Read our success story
How Does Bankruptcy Affect Your Credit Rating?
Bankruptcy can provide relief from your debts and an opportunity to reset your personal finances. But bankruptcy will be recorded on your credit rating report.
Success Story: Avoid Bankruptcy By Settling Personal Guarantee Debts
What should you do if you provided a personal guarantee and your business is struggling? One of the things you can do is to negotiate a settlement.
Success Story: Settling a Personal Tax Debt
An accountant we know, recently referred us a client who owed over $230,000 in personal income tax. The accountant had attempted to negotiate a payment arrangement including a reduction of the tax debt. However, negotiations had been unsuccessful. Background information and our engagement We obtained the following general information regarding the client and her tax… Read more »
Success Story: Settling a Mortgage Shortfall Debt
We have written in the past about how we have assisted clients settle mortgage shortfall debts, you can view them here and here. We are constantly helping clients settle mortgage shortfalls and this is another example of how we helped. Background Information We were contacted by Tim and Sarah (not their real names) about a debt… Read more »
Going Bankrupt: What are the effects of Bankruptcy?
The effects of bankruptcy are serious and generally can’t be cancelled if you change your mind. You should get advice before you go bankrupt including on what assets can be sold in bankruptcy and other effects of bankruptcy. We can help you consider your options, so give us a call to discuss your circumstances. In… Read more »
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