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Everything you need to know about Bankruptcy Notices

28

Sep 2017

Everything you need to know about Bankruptcy Notices

If you have been given a bankruptcy notice or court order you must respond immediately to minimise future grief. Owing anyone money referred to here as a creditor, may be any person or company to whom you owe money. If you’re unfit to pay money to a creditor, the creditor will approach the Australian Financial Security Authority (AFSA) who will consequently dispense a bankruptcy notice...

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Australia’s Household Debt Crisis Looms

15

Sep 2017

Australia’s Household Debt Crisis Looms

Today in the news, former economics advisor John Adams revealed that Australia is too late to prevent an ‘economic apocalypse’ regardless of his repetitive warnings to the political elites in Canberra. He continued to urge the Reserve Bank to raise interest rates to prevent household debt getting further out of hand. This bubble is very easy to explain. Confidence! It’s the misconstrued perception that Australia’s...

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ATO Debts Becoming Unmanageable? Notice to all ABN holders, your ATO Debts may now shatter your credit rating. Beware of ATO Bankruptcy!

12

Sep 2017

ATO Debts Becoming Unmanageable? Notice to all ABN holders, your ATO Debts may now shatter your credit rating. Beware of ATO Bankruptcy!

There is troubling news for business owners who have an ATO debt as of 1 July 2017. Small businesses need to be careful of ATO Bankruptcy since the ATO may publish information of your tax debts to credit reporting agencies such as Dun & Bradstreet and Veda Advantage. This will make it a lot more difficult for small businesses to obtain credit, potentially incapacitating them....

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What Stays On Your Credit Report And For How Long?

08

Aug 2017

What Stays On Your Credit Report And For How Long?

A credit report is a specific document that records your history with creditors and has a major effect on your future financial abilities. Possessing a ‘good’ credit report is standard as long as you pay your bills and debt repayments on schedule. Having said that, skipping a repayment on a bill or debt repayment can cause significant problems if you plan to receive credit again...

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What Is It Like To Go Bankrupt?

08

Aug 2017

What Is It Like To Go Bankrupt?

There’s no question that bankruptcy isn’t the best scenario to be grappling with. There are some harsh financial repercussions involved and it’s a very challenging and stressful process that will affect you financially for several years to come. Ending up in mountains of debt can materialise in the blink of an eye, and many individuals end up in this situation as a result of a...

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Bankruptcy in Australia – What To Know About Debt Collection

27

Jul 2017

Bankruptcy in Australia – What To Know About Debt Collection

Lots of individuals wrestle with financial troubles at some time in their lives, and the majority of these people are probably familiar with debt collectors. A debt collector is a person whose job is to collect debts on behalf of an organisation. A debt collector can either be an employee of a business you owe money to, or they could be a third party employed...

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4 Types Of People Who Have Money Issues

19

Jul 2017

4 Types Of People Who Have Money Issues

When it relates to money, a person’s personality represents a meaningful role in their financial decision-making. Everyone is unique, and that’s what makes us human, so it really shouldn’t come as a surprise that there are various types of personalities that are more likely to have money troubles than others. It’s difficult to modify your personality traits, particularly when you’re older, so simply having an...

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What Is Debt Consolidation?

22

Jun 2017

What Is Debt Consolidation?

Most of us have seen the plethora of debt consolidation ads on television. There is a lot of competition in the debt consolidation industry because unfortunately, lots of people are struggling financially and these businesses provide much needed financial relief. Mortgages, car loans, credit cards; people can acquire loans from a huge variety of lenders for almost anything nowadays. The dilemma is that all these...

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What Happens After You File For Bankruptcy

20

Jun 2017

What Happens After You File For Bankruptcy

Bankruptcy is not a decision that should be taken lightly. There are some harsh financial implications involved and your financial freedom will be limited for many years to come. This doesn’t indicate that filing for bankruptcy is the end of the world though. It should really be considered as the first step in securing a bright financial future for you and your family. Millions of...

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

14

Jun 2017

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

Experiencing financial hardship is a pretty stressful situation and sadly, millions of people around the world end up in this situation each year. People in this situation have a number of options to recover from their financial issues, and bankruptcy should be considered as a last resort when all other options have been exhausted. You’ve possibly seen a couple of those debt consolidating companies advertise...

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