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What Happens When You Declare Bankruptcy and Purchasing A Home

Whilst bankruptcy has lots of financial consequences, it certainly does not represent the end of the world. Lots of people file for bankruptcy for numerous reasons, and this amount only escalates with the challenging economic conditions that we witness today. According to reports from the Australian Financial Security Authority (AFSA), there were 7,466 incidents of bankruptcy in Australia in the September 2014 quarter alone. Getting bankruptcy advice is imperative so you become informed of exactly what happens financially when you

Going Bankrupt, Bankruptcy Advice

Top Things You Should NOT Do Before Going Bankrupt

Lots of bills? Too much debt? Not nearly enough money? Many people struggle financially at some point in their lives. Unanticipated events like hospitalisation, redundancy, and even divorce, can severely affect your financial condition. Yet, when there is no other way to appropriately cope with your debts, some individuals are forced to file for bankruptcy. Going bankrupt is never easy. It’s complicated, traumatic, and emotional. Consequently, a lot of individuals dig themselves a deeper hole before even filing for personal bankruptcy.

Signs You May Want To Consider Bankruptcy

Personal bankruptcy is never the preferred situation to be in, however lots of individuals find relief in confronting their financial issues and starting over. No one is perfect, and people make mistakes. But too many individuals put off filing for bankruptcy for far too long. They prefer to ignore the elephant in the room and spend years fighting just to make ends meet. Yes, bankruptcy is never pleasurable and lots of people find it embarrassing, nonetheless it is the very

divorced, Bankruptcy Advice

Bankruptcy Advice – Filing For Bankruptcy and Divorce

Everyone experiences difficult times in their life. Job loss, severe illness, and unplanned pregnancies are just a couple of these. A leading reason why these incidents are so traumatic is because financial problems are usually accompanied with them. In most cases, financial difficulties are the leading cause of divorce, and on the other hand, divorce can be the leading cause of bankruptcy. So, it’s no surprise that we often see these two events happen simultaneously. Even though both actions are

Christmas debt, Bankruptcy Advice

5 Tips For Repaying Your Christmas Debt

For most people, Christmas is seen as the most splendid time of year for both young and old. All of us are excited to finish the year of work or school and devote some quality time with family and friends. They don’t call it the silly season for nothing either. Eating and spending too much is the norm and it’s pretty easy to lose track of your savings and your waistline! Taking a hard-earned break is fundamental for our psychological

What can I keep when I’m Bankrupt – The bankruptcy means test.

Any time people stress over Bankruptcy, they fret about just how it will affect their day-to-day lives, and whether they will be able to retain their house, vehicle, tools, and other important possessions. Among the ways that we can work out this out is by utilizing the insolvency means test. It is something that we take our clients through to show them just how they may or may not be affected, and what Bankruptcy will mean to them. Personal and household items Your

gold coast bankruptcy, Bankruptcy Advice

The top 3 concerns you are going to have with Bankruptcy in Gold Coast.

If you are overcome by debt and you are having a look at Bankruptcy, there are probably 3 repercussions you need to consider to start with. Income Loss For the 3 years you are generally bankrupt you might have to chip in some of your income back toward your debt despite being bankrupt. (see table below). This is really important when it concerns Bankruptcy because If you do not provide from your salary like you are supposed to, the consequences are serious, your

Losing your home: How much do you know of Bankruptcy in Australia?

The most significant concern numerous people have with Bankruptcy is without a doubt ‘Will I manage to retain my home?’ and it can be complicated, but sometimes it is attainable. The only reason where you will be required to sell your family house when you declare bankruptcy is if you have equity in the home so that it is thought as an asset. But exactly how does this work? What is equity? How much equity makes it an asset? We get

Bankruptcy Problems? Did you know that your Bankruptcy duration could be prolonged?

My goal today is to try and warn you regarding potential complications you may have with Bankruptcy to ensure that you can stay clear of making errors! When it includes Bankruptcy, there is a great deal of difficulty and misinformation due to how challenging it may be, and how emotionally charged individuals are whenever they are experiencing it. Here at Bankruptcy Advice we definitely wish to make sure people understand that if you make mistakes it could be extended from 3

Bankruptcy in Australia – Concerned about what will happen to your business?

Among the biggest concerns we get whenever it comes to Bankruptcy is if you will lose your business if you declare bankruptcy. The short answer is no, you are unlikely to lose your small business except if you want to. When it comes to Bankruptcy, if you are a manager of a company any shape or size you can retain your business if you wish to, typically a failing company can pressure a person into insolvency, so in light of those