September 5th, 2019

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Bankruptcy Canberra Blog

Bankruptcy Superannuation 3 Critical Questions

Bankruptcy & Superannuation 3 Critical Questions

For the majority of Australians superannuation can be an individual's greatest asset, the idea of losing it when filing for bankruptcy is a very genuine concern for a lot of our customers. With certain aspects of the economy doing considerably well and other parts going through difficult economic times, bankruptcy numbers in Australia still continue to increase. Economists don't discuss Australia's two-speed economy much anymore, but it undoubtedly still is two-speed. Due to a long-term...

What Happens When You Declare Bankruptcy and Buying A Home

While bankruptcy has many financial impacts, it surely doesn't represent the end of the world. Many individuals file for bankruptcy for numerous reasons, and this amount only escalates with the challenging economic conditions that we witness today. According to statistics from the Australian Financial Security Authority (AFSA), there were 7,466 cases of bankruptcy in Australia in the September 2014 quarter alone. Seeking bankruptcy advice is necessary so you become aware of exactly what...
Top Things You Should NOT Do Before Going Bankrupt

Top Things You Should NOT Do Before Going Bankrupt

Too many bills? Too much debt? Not enough money? Most people struggle financially at some point in their lives. Unexpected events like hospitalisation, losing a job, and even divorce, can greatly reshape your financial circumstances. But, when there is no other way to properly handle your debts, some individuals are forced to file for bankruptcy. Going bankrupt is never simple. It's complicated, demanding, and emotional. As a result, lots of people dig themselves a deeper hole before even...

Signs You May Want To Consider Bankruptcy

Personal bankruptcy is never the ideal situation to be in, however lots of people find relief in confronting their financial issues and starting afresh. No one is perfect, and people make mistakes. Yet too many men and women hold off filing for bankruptcy for far too long. They choose to ignore the elephant in the room and spend years struggling just to make ends meet. Yes, bankruptcy is never pleasurable and many people find it embarrassing, however it is the very first step towards financial...

Bankruptcy Advice – Filing For Bankruptcy and Divorce

Everyone goes through difficult times in their life. Loss of employment, severe illness, and unplanned pregnancies are just a handful of these. A leading reason why these incidents are so stressful is because financial problems are usually accompanied with them. In most cases, financial difficulties are the leading cause of divorce, and on the contrary, divorce can be the leading cause of bankruptcy. So, it's not a surprise that we occasionally see these two events happen simultaneously. While...
5 Tips Christmas Debt Posted

5 Tips For Repaying Your Christmas Debt

For the majority of people, Christmas is viewed as the most pleasant time of year for both young and old. We all are ecstatic to finalise the year of work or school and enjoy some quality time with family and friends. They don't refer to it as the silly season for nothing either. Eating and spending a bit too much is the norm and it's rather easy to lose track of your savings and your waistline! Taking a hard-earned break is crucial for our psychological health, so it's easy to overindulge...
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What can I maintain when I’m Bankrupt – The bankruptcy means test.

Any time individuals stress over Bankruptcy, they fret about just how it will impact their day-to-day lives, and whether they will be able to keep their home, car, tools, and other essential belongings. One of the ways that we can figure this out is by using the insolvency means test. It is something that we take our clients through to present to them just how they may or may not be affected, and what Bankruptcy will signify to them. Personal and household items Your valuables are...
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The top 3 concerns you are going to have with Bankruptcy in Canberra.

If you are overwhelmed by debt and you are investigating at Bankruptcy, there are probably 3 repercussions you need to look at before anything else. Income Loss For the 3 years you are actually bankrupt you may have to pitch in some of your income back toward your debt despite being bankrupt. (see table below). This is actually important when it concerns Bankruptcy because If you do not give from your salary like you are expected to, the consequences are severe, your bankruptcy may be...
You Dont Know How Much You Owe

Losing your house: How much do you know of Bankruptcy in Canberra?

Easily the most considerable issue many have with Bankruptcy is without a doubt 'Will I manage to keep my home?' and it might be complicated, but sometimes it is attainable. The only good reason where you will be required to sell your family residence when you declare insolvency is if you have equity in the home so that it is considered an asset. But exactly how does this work? What is equity? Just how much equity makes it an asset? We get the questions frequently about Bankruptcy. So below...

Bankruptcy Problems? Did you know that your Bankruptcy period may be prolonged?

My mission right now is to try and inform you about possible problems you could have with Bankruptcy to make sure that you can stay away from making errors! When it includes Bankruptcy, there is a great deal of difficulty and false information due to how tricky it may be, and how emotionally charged persons are whenever they are going through it. Here at Bankruptcy Experts Canberra we certainly want to ensure individuals understand that if you make mistakes it may be extended from 3 years to 5...
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