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Everything you will need to know about Bankruptcy Notices

If you have received a bankruptcy notice or court order you must respond right away to minimise future grief. Owing anyone money referred to here as a creditor, can be any person or business to whom you owe money. If you’re unable to pay money to a creditor, the creditor will speak with the Australian Financial Security Authority (AFSA) who will consequently deliver a bankruptcy notice demanding payment of that money.   As expected, there is a threshold to the total amount

Australia’s Household Debt Crisis Looms

Today in the news, former economics advisor John Adams advised that Australia is too late to prevent an ‘economic apocalypse’ despite his continual warnings to the political elites in Canberra. He continued to urge the Reserve Bank to raise interest rates to avoid household debt getting further out of control.   This bubble is very simple to express. Confidence! It’s the mistaken perception that Australia’s last 20 years of continual economic growth will never experience any kind of correction is most disconcerting.

ATO Debts Becoming Uncontrollable? Warning to all ABN holders, your ATO Debts may now blemish your credit rating. Beware of ATO Bankruptcy!

There is grim news for business owners who have an ATO debt as of 1st July 2017. Small businesses must be careful of ATO Bankruptcy since the ATO may unveil information of your tax debts to credit reporting agencies such as Veda Advantage and Dun & Bradstreet. This will make it a lot more problematic for small businesses to receive credit, potentially incapacitating them. How could this bear upon you? You may be affected if you fit into one of

What Remains on Your Credit Report And For How Long?

A credit report is a specific document that records your history with creditors and has a notable effect on your future financial capabilities. Having a ‘good’ credit report is typical provided that you pay your bills and debt repayments punctually. Having said that, overlooking a repayment on a bill or debt repayment can cause serious problems if you wish to receive credit again down the road. Not long ago, the rules have been adjusted to place a greater importance on

What Is It Like To Go Bankrupt?

There’s no question that bankruptcy isn’t the best situation to be grappling with. There are some unpleasant financial penalties involved and it’s a very tough and stressful process that will affect you financially for several years to come. Ending up in mountains of debt can happen in a heartbeat, and many people find themselves in this situation due to a variety of factors. Not being able to work due to illness is one of the most common reasons individuals declare

Bankruptcy in Australia – What To Know About Debt Collection

Lots of people wrestle with financial challenges at some point in their lives, and most of these individuals are very likely to be familiar with debt collectors. A debt collector is a person whose job is to collect debts on behalf of a company. A debt collector can either be an employee of a company you owe money to, or they can be a 3rd party servicing a lender. As you can imagine, it’s not an easy task to squeeze

Four Types Of People Who Have Money Issues

When it relates to money, a person’s personality represents a notable role in their financial decision-making. Everyone is unique, and that’s what makes us human, so it really shouldn’t come as a shock that there are certain types of personalities that are more likely to have money concerns than others. It’s tough to reshape your personality traits, in particular when you’re older, so simply comprehending how your personality affects your financial decisions may help you make better financial decisions down

What Is Debt Consolidation?

All of us have seen the multitude of debt consolidation advertisements on TV. There is a huge amount of competition in the debt consolidation industry because unfortunately, lots of individuals are struggling financially and these businesses provide much needed financial relief. Mortgages, car loans, credit cards; individuals can obtain loans from a vast range of lenders for virtually anything in today times. The challenge is that all these loans are hard to manage and if you fall behind in your

What Happens After You File For Bankruptcy

Bankruptcy is not a decision that should be taken lightly. There are some major financial consequences involved and your financial freedom will be constrained for years to come. This doesn’t mean that declaring bankruptcy is the end of the world though. It should actually be considered as the first step in securing a bright financial future for you and your family. Millions of people file for bankruptcy each year and many of them have the ability to buy homes, cars

Is Bankruptcy My Best Option? How To Know If Bankruptcy Is Right For You

Experiencing financial hardship is a pretty stressful situation and sadly, millions of people across the globe find themselves in this position every year. Individuals in this predicament have quite a few options to recover from their financial woes, and bankruptcy should be thought of as a last resort when all other options have been exhausted. You’ve most likely seen some of those debt consolidating companies offer their services on TV for example. Often, it can be confusing to try to