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Before you Declare Bankruptcy

If you are overwhelmed by debt and you are taking a look at Insolvency Advice, there are 4 effects you must consider first. Credit Rating When it comes to Insolvency Advice in Australia, the process will commonly last for 3 years in most cases and for that 3 years your credit file will be marked with a ‘bankruptcy’ on it, this basically means you will not be able to borrow money. By the end of your 3 years you will be a

lose house, Bankruptcy Advice

Declaring Bankruptcy in Australia – Will I lose my house if I go bankrupt?

Declaring Bankruptcy in Australia is a difficult to understand process, but I know from meeting with thousands facing the likelihood of bankruptcy over the years, that pretty much nothing concerns people more than the thought of losing the family home. Almost everyone is emotionally connected to their home – it’s where the kids have grown up, it’s where you appreciate life on a day to day basis. Will you lose your home if you go bankrupt? The response is a resounding

Bankruptcy in Australia – does it matter if it is voluntary?

When it comes to Bankruptcy in Australia, commonly people aren’t aware that there can be both voluntary, and involuntary bankruptcy – both have distinct methods and policies. Involuntary bankruptcy occurs when someone you owe money to applies to the court to declare you bankrupt. Commonly when you get one of these notices, you have 21 days to pay all the debt. If you do not, then the creditor returns to the court and asks the court to provide a sequestration order

Bankruptcy in Australia – Will my income be changed if I go bankrupt?

Bankruptcy in Australia is a complicated process, and you ought to ensure you get the right suggestions. And when it comes to your income being affected, the answer to the question is maybe. The first thing you need to know about going bankrupt is there is no limit on how much you can earn. However, I will point out that your income is a serious consideration when working through when it comes to Bankruptcy. The very first thing you need to

Bankruptcy Information in Australia – Who exactly do I talk to?

Should I consult with my accountant about Bankruptcy Information? The answer seems obvious doesn’t it: if anyone knows your financial situation well in Australia, It’s going to be your accountant. However, the short answer is a resounding No! It’s not that your accountant will not have your best interests at heart when it comes to Bankruptcy Information, it’s that his abilities lie in helping you save you money at tax time, minimizing your tax liability and lodging your BAS. Most accounting degrees

Bankruptcy Advice in Australia – Will I lose my job if I go bankrupt?

Basically everyone experiencing Bankruptcy Advice in Australia has this worry about their job, and the answer to the question is ‘maybe’. The challenge with some professions isn’t that you simply cannot do the job any longer, it’s more a problem of professional bodies or associations that view bankruptcy in a dim light and can make it difficult for you. When it comes to Bankruptcy Advice and employment in Australia, what I would propose is that you do your very own homework

Bankruptcy Advice in Australia – Will I lose my business if I go bankrupt?

When people in Australia come to me hoping to speak about Bankruptcy Advice, they are typically full of questions. The internet has lots of information, but far too much of it is baffling or contradicts itself, so I make it my mission to try and make it clearer. One of the very most usual problems is ‘Will I lose my business if I declare bankruptcy?’ The quick answer is no. If you are an owner of a company any shape

Going Bankrupt – Choices.

When it comes to Going Bankrupt in Australia, there are a lot of choices that we get given depending upon who we are, who we speak to, and what exactly has gone wrong. One of the most common confusion I see with Going Bankrupt is when it comes to choosing between Debt Consolidation, Personal Insolvency Agreements, and Bankruptcy itself. Should I consolidate my debts? When it comes to Going Bankrupt in Australia, a lot of the info you receive on this issue

Going Bankrupt

When people in Australia ask me about Going Bankrupt, I let them know the timeless Native American Fable of the little boy and the Rattlesnake. An old rattlesnake asks a passing young boy to carry him to the mountain top to view one last sunset before he dies. The boy was hesitant, but the rattlesnake vowed not to bite him in exchange for the ride. They travelled together only for the snake to in the end bite the boy despite

Help Small Business and Entrepreneurs.

5th February 2016 – By Charles Bosse Do you have an idea of how much Going Bankrupt in Australia is changing? The Australian Government at the end of 2015 put forward some innate changes to the Bankruptcy Laws in Australia. The most significant of these is the length of time that a person is bankrupt for. At the moment, there is a minimum amount of time that you must continue to be bankrupt, but, this 3 year period may in fact