While many of us do attempt to save as much money as we can by budgeting and building funds, unfortunate circumstances do arise – sometimes without warning. This often results unavoidably in company bankruptcy or voluntary bankruptcy. Whether you’re a…
One of the major reasons people try to avoid bankruptcy is because it can mean losing your family home or other property assets you have. When you declare bankruptcy, you accept that your trustee will be selling the property to…
When you declare bankruptcy, you are wiping as much debt as you can from creditors to whom you owe money. Your bankruptcy trustee will act as an in-between in this compromise and help you settle your debts by selling or…
It’s no secret that the evolution of the credit card has made it easy for us all to swipe and shop. But with this modern convenience comes a frequently overlooked problem – long-lasting debt. When you’re not able to pay…
Travelling Overseas While Bankrupt One of the terms you agree to when you declare bankruptcy is to accept certain travel restrictions. This does not mean you cannot travel overseas, it simply means you have more of a process to go…
The evolution of the internet has provided us with a range of options when it comes to just about any service imaginable. This is especially true for when it comes to choosing insolvency firms. If you’re seeking insolvency advice in…
The recent Dick Smith company insolvency case provides a prime example of what can occur when business finances are inappropriately managed. Once insolvency specialists took control of Dick Smith which became unable to pay its suppliers – recording poor sales…
The Australian Financial Security Authority (AFSA) publishes annual reports on bankruptcy and insolvency in Australia. Each financial year, the report is released detailing the number of bankruptcies and insolvencies for that year. The AFSA takes data collection very seriously, and…
TV and radio are aggressively marketing debt consolidation and other “get out of debt quick” schemes to vulnerable consumers. The advertisements use lines such as: “Reduce your debts in minutes” “Halve your debts” “Consolidate your debts into easy monthly payments”…
For a lot of people, entering into a debt agreement is a great way to avoid bankruptcy. But depending on your circumstances, you may better off choosing another option. TV and radio advertising is always pushing debt agreements as the…
