So how much will actually be removed? What financial obligations will I still be left with? Is Bankruptcy really going to assist me get a fresh start? When it relates to bankruptcy pros and cons in Australia I frequently have individuals either stressed that their debt won’t be cleared away, or will have no idea that bankruptcy does not really address every little thing. So before you get too caught up with bankruptcy pros and […] The post Claiming Bankruptcy Pros and Cons Australia in 2020 first appeared on Bankruptcy Experts Australia ..read more

If you’re drowning in debt, the first thing to do is stop telling yourself you’re drowning. There is a way out, no matter how deep you’re in. Here are our suggestions to get you on the way to a better life. Make a budget Ask: are you broke or overspent? Get a plan Don’t get into any more debt Cut expenses, somehow Make more money Ask creditors to lower your interest rate Pay on time […] The post Best Ways to Get out of Debt first appeared on Bankruptcy Experts Australia ..read more

There is a question we get asked all the time here at Bankruptcy Experts. Yes, there are debt recovery time limits, with some strings attached. With each month that passes, it becomes harder for the creditor to recoup the debt. In fact figures from a recent study state that a debt overdue by just one month has a 93.8% chance of being paid, but this percentage drops to 74% after 3 months and down to […] The post If I have debts that are old, don’t they get written off anyway? first appeared on Bankruptcy Experts Australia ..read more

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Lots of bills? Too much debt? Not enough money? Lots of people struggle financially at some point in their lives. Unexpected events such as hospitalisation, losing a job, and even divorce, can seriously transform your financial condition. Yet, when there is no other way to adequately cope with your debts, some folks are forced to file for bankruptcy. Going bankrupt is never simple. It’s complicated, demanding, and emotional. Consequently, lots of people dig themselves a […] The post What you DON’T want to do before you go bankrupt in 2020 first appeared on Bankruptcy Experts Australia ..read more

What happens to my Centrelink debts if I go bankrupt? As a general rule we have always told our potential clients not to count on having your Centrelink debt written off when you declare bankruptcy, however it seems more and more this is not the case. In most cases it has been our experience that Centrelink will not pursue you for your Centrelink debts*(which is also outlined on the Centrelink website – see link below) […] The post Bankruptcy and Centrelink Debts first appeared on Bankruptcy Experts Australia ..read more

A large number of Australians go through financial challenges during their lifetime, and this is largely regarded as a normal fluctuation in our finances. But what if you’re unable to address these issues yourself, but at the same time, you don’t want to declare bankruptcy?   Debt consolidation loans are a common solution that relieves people of financial pressure by consolidating all their current debts into one easy to manage loan that’s payable monthly. On […] The post What You Need to Know About Debt Agreements first appeared on Bankruptcy Experts Australia ..read more

There’s no doubt that financial issues can cause a lot of stress and anxiety in our lives. Continuously fretting about how you’re going to pay your bills not only makes you apprehensive, but also puts stress on your relationships, your family, and your health. The fact is, stressing over money isn’t going to cure your financial issues. If you’ve found yourself in a situation where you’re struggling to make ends meet, here are the best […] The post Tips on How to Address Your Financial Troubles first appeared on Bankruptcy Experts Australia ..read more

Personally, I find there’s nothing worse than being cold. Originating from Queensland, I’m used to the hot weather and it doesn’t worry me much, but the cold hits me like a tonne of bricks! Like many of you, my electricity bill soars during the winter months and there’s a number of reasons for this. Not only are we using heating products to keep us warm and toasty, but the nights are longer so naturally we […] The post Effective Ways to Save Money on Your Electricity Bill this Winter first appeared on Bankruptcy Experts Australia ..read more

Filing for bankruptcy certainly isn’t the end of the world, but it does have significant repercussions that will impair your finances in the future. I’ve discovered that most of the time, focusing efforts on creating a bright future is the best way for individuals to handle their bankruptcy and consecutive recovery. To do this, however, individuals must be aware of exactly what bankruptcy entails so they can effectively budget, plan, and rebuild their wealth in […] The post Bankruptcy and Child Support – Everything You Need to Know first appeared on Bankruptcy Experts Australia ..read more