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.
The Australian Securities and Investments Commission and the Australian Financial Security Authority recently released the statistics for insolvency appointments across Australia.
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.
Often when a business owner signs a credit application for their business, they don’t know that they are signing a personal guarantee let alone a guarantee, which has a charging clause. However, the risks and impacts of guarantees with charging clauses can be significant.
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?
Do you know what the main causes of personal insolvency are? Let’s look at the data to better identify risk factors in your finances.
Did you buy property in a mining town, only to see its value plummet in recent years? Cactus Consulting can help you deal with this.
Miscommunication between creditors and a trustee can often lead you down a difficult path. Here is what to do, and how Cactus Consulting makes it easy.
Personal insolvency issues strike a lot of Australians every year – but who is most at risk? We crunch the numbers to find out.