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.
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
We were recently referred a client who was being pursued for a debt by Timbercorp Finance Pty Ltd (‘Timbercorp’). The debt totalled over $130,000 including interest, which was continuing to accrue.
If you become bankrupt, your bankruptcy trustee will be able to sell some of your assets. But there are various assets which are protected and which your trustee cannot sell. So, what assets can and can’t be sold?
We are aware of the pressures faced by individuals in financial distress. We can assist you in understanding the options available to deal with your debt.
With investment property values falling – sometimes below the mortgage value – take these 3 steps to avoid the bankruptcy & find a better outcome…
Considering a debt agreement? Go in with your eyes wide open: find out what the main benefits are but also understand some of the red flags to look out for…