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?
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.
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 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 »
What happens to assets you acquire after your bankruptcy starts?
If you become bankrupt, your bankruptcy trustee can sell or realise any assets which you own which are divisible property. This includes things like your interest in your house, shares in public companies, your car (if valued over a certain amount) or any significant cash at bank. But often people don’t know that a bankruptcy… Read more »
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