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Even though bankruptcy has a lot of financial consequences, it surely doesn't mean the end of the world. Many people file for bankruptcy for plenty of reasons, and this amount only escalates with the challenging economic conditions that we witness today. According to information from the Australian Financial Security Authority (AFSA), there were 7,466 episodes [...]

Lots of bills? Too much debt? Not enough money? Lots of people struggle financially at some point in their lives. Unexpected incidents like hospitalisation, redundancy, as well as divorce, can greatly transform your financial circumstances. But, when there is no other way to adequately control your debts, some folks are forced to file for bankruptcy. [...]

Personal bankruptcy is never the ideal position to be in, however lots of individuals find relief in dealing with their financial issues and starting over. No one is perfect, and people make mistakes. But too many men and women put off filing for bankruptcy for far too long. They choose to ignore the elephant in [...]

Everyone experiences difficult times in their life. Job loss, serious illness, and unplanned pregnancies are just a handful of these. A leading reason why these events are so traumatic is because financial difficulties are commonly accompanied with them. In most cases, financial problems are the leading cause of divorce, and likewise, divorce can be the [...]

For most people, Christmas is viewed as the most joyous time of year for both young and old. Most of us are excited to wrap up the year of work or school and enjoy some quality time with family and friends. They don't call it the silly season for nothing either. Eating and spending a [...]

Whenever individuals worry about Bankruptcy, they fret about how it will affect their day-to-day lives, and whether they will be able to keep their house, vehicle, tools, and other essential belongings. One of the ways that we can work out this out is by using the bankruptcy means test. It is something which we take [...]

If you are destroyed by debt and you are checking out at Bankruptcy, there are undoubtedly 3 repercussions you should look at first. Income Loss For the 3 years you are actually bankrupt you may be needed to chip in some of your income back toward your debt despite being bankrupt. (see table below). This [...]

Easily the most significant worry many have with Bankruptcy is without a doubt 'Will I manage to keep my house?' and it can be complicated, but in some cases it is achievable. The only good reason where you will be obliged to sell your family residence when you declare bankruptcy is if you have equity [...]

My goal right now is to try and alert you regarding likely complications you might have with Bankruptcy so that you can stay away from making mistakes! When it involves Bankruptcy, there is lots of difficulty and false information because of how complicated it can be, and how emotionally charged individuals are when they are [...]

One of the most significant questions we get when it comes to Bankruptcy is if you will lose your business if you declare bankruptcy. The short answer is no, you are probably not going to lose your small business except if you need to. When it relates to Bankruptcy, if you are a manager of [...]