One of the most common questions we get asked is what is a part IX Debt Agreement and what’s the difference between this and bankruptcy. Many people when looking for options to assist them in releasing themselves of debts, will most likely come across this option. Truth be told as a company The Bankruptcy Team recommends a Part IX Debt …
The first thing that you need to know if you’re considering what happens when you declare bankruptcy in Australia is that you’re not alone! Last year 28,000 individual Australians declared themselves bankrupt. Close to 80 people every single day of the year. This is a significant amount of people… There’s a lot of misinformation in the market – what applies …
Check out the Top 6 Bankruptcy Myths visual click here: Many people are led to believe that bankruptcy is something to be feared. However, what’s scary is simply the unknown. Or even worst myths that are associated with Bankruptcy. We are going to go over the top 6 myths that people believe about bankruptcy and explain each one to you …
1 year Bankruptcy… Has it changed from 3 years to 12 months? The Australian government has been looking at changing the bankruptcy duration from 3 years to 1 year for several years now… We keep getting asked is it ever going to happen? Well, for the first time in a long time it looks like it is… And, the good …
This is a question for the ages… Should I file for bankruptcy? Well I don’t know you yet, so I’m sorry but I can’t answer that for you, however what I can do is give you a complete process breakdown on why people file for bankruptcy and this will help you with making your own decision. Firstly I want to …
Bankruptcy & Coronavirus The whole coronavirus situation has everyone turned around. Things are complicated and getting your hands on the right information is becoming more difficult. Bankruptcy applications are already on the rise. The prediction is that once the Australian Government pulls back on the current stimulus of job seeker / job keeper and the like, personal insolvencies are …
The answer is most likely. As everyone’s situations are different and car values differ the easiest way to determine if your car can be kept when bankrupt is to read the below 3 case studies as one will relate to your situation. The Australian Financial Security Authorities standard rule is that there’s a cap of $8,000 allowable for a vehicle. …
If you’ve looked into your options and feel that bankruptcy is your option then fill out our bankruptcy evaluation and we will assist you through the process. If you want some more information to make sure it’s the right decision for you follow our 4 step process below so you can make an informed decision: Simple 4 steps to a …
