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If you are declared bankrupt – irrespective of whether you applied for bankruptcy voluntarily or a creditor filed a petition to have you declared bankrupt – you may likely face a wide range of consequences. One of these, which can have a long term effect on your life, is the effect bankruptcy will have on […]
We all have our own set of individual financial circumstances, therefore the answer to the question of how much debt is too much debt will differ for all of us. However, there are a number of strategies you can use that will help you identify how much debt is too much debt for you. Your […]
Whether you find yourself starting to struggle with debt repayments, or would simply like to simplify your repayment schedule, debt consolidation may be an option for you. As well as helping you simplify your financial affairs, opting for debt consolidation could in some instances help you avoid serious financial difficulty. This may include being issued […]
The terms insolvency and bankruptcy are often used interchangeably. As such, they are often confused and mistakenly taken to mean the same thing. If you are potentially facing financial difficulties and are looking into your options, it pays to know the difference between insolvency and bankruptcy. What is the Difference Between Insolvency and Bankruptcy? Before […]
A debt agreement is a binding agreement between a debtor and their creditors. Debt agreements are where creditors agree to accept an amount of money that you can afford to pay, over a set period of time, to settle the debtor’s debts. Although entering a Part IX Debt Agreement is not the same as being […]
Under Australian Law, personal bankruptcy laws are covered under the Bankruptcy Act 1966 (Cth). The link above will allow you to access the full details of the Act. Alternatively, you can read A Guide to Bankruptcy Laws elsewhere within the  blog. The Australian Financial Security Authority (AFSA) are the government agency that is responsible for […]
Not being able to pay your debts is a difficult position to find yourself in. Unfortunately, when people find themselves insolvent they choose to do exactly what they shouldn’t do: they bury their heads in the sand and hope the problems will go away. What people who choose to do this often don’t realise is […]
News outlets regularly run features on personal finance matters and the importance of a good credit standing. In addition, “personal finance advice and credit improvement” has become a huge industry in itself, with TV shows, blogs, websites, and some hugely influential individuals offering advice on how to be smart with your money and how to […]

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