bankruptcy

The impending open banking regulations are set to fundamentally change the way customers and organisations interact for mutual benefit. By sharing data electronically with credit providers, time spent on filling out paper applications will be mitigated ... More

A new Bill currently before Parliament could mean a radical change bankruptcy legislation, slashing the bankruptcy period from three years and one day to just a year. In 2018, there have been more than 32,000 personal insolvencies across Australia ... More

Redundancy, bereavement, investments gone bad, failed businesses, a divorce, sickness or being a carer can leave people struggling to pay the bills. Often, it is honest, hardworking people who have fallen on bad luck that can lead them to accumulate ... More

Q. I have a Centrelink debt of $30,000. If I decide to declare bankruptcy will my debt be cleared? - Helen A. Hmmmm. This is not my area of expertise. So I went to the Welfare Rights Centre, which says: "If you have a Centrelink debt, and then become ... More

Q. I am 35 years old, single with no children and have about $21,000 in personal loans that have now been sold by the bank to a debt agency. I was out of work for a few years and the debt got out of hand. I feel that due to earning only about $33,000 ... More

Testamentary trusts aren't for everyone. But they can solve a dilemma for some parents who want to leave their assets to their children and grandchildren with tax advantages or to protect their assets so they don't fall into the wrong hands. A discretionary ... More

A growing number of Australians are one emergency away from financial ruin. With cost of living pressures on the rise, what should you do if you're going to run out of money before pay day? Prioritise your bills Make a list of all your upcoming bills ... More

Christine: I earn $60,000 a year and last year I put myself under a debt agreement . I felt it was my last option due to the circumstances at home. I've made bad decisions in the past and am now straightening things out in my life. I have decided to ... More

Bankruptcy vs. debt agreements When it comes to debt, it's more common to be way in over your head than you think. In fact, Australia's personal debt is among the highest in the world. . That's right - with a household debt to GDP ratio ... More

Are your personal debts spiralling because you have too many credit cards charging high interest rates? And, because the payments are due at different times, if you overlook any of them you may be slugged with penalties. Consolidating the debts could ... More