Bankruptcy Experts Blog

Questions about Bankruptcy Law changes are becoming are increasing dramatically at this very difficult time. So what changes have actually occurred recently to the Bankruptcy Laws. It seems there is an enormous amount of misinformation out there so in an attempt to clarify things we have put this notice together. As the COVID-19/Coronavirus continues to impact individuals and businesses it’s important to know what temporary measures the government has put in place for people considering

Generally, but not always you will receive a letter from the Bankruptcy Regulator (AFSA) – see attached at the bottom of this post for a sample. Make sure you get a discharge letter because it serves a few purposes, such as peace of mind knowing its over, closure which is important for your mental well-being and finally it’s great to have on file to make sure this discharge is reflected on your credit file. There

When you go bankrupt your credit rating is damaged in such a way that you cannot get loans. However, when you apply to rent a property the property managers will do a series of checks into your past rental history and your employment etc but not your credit history. Getting approved to rent a house or unit is very different to getting a loan, the focus is did you pay your rent at the last

It’s very likely if you receive an inheritance while you are bankrupt, and that amount is less than what you went into bankruptcy for the entire inheritance will go towards your debts and you won’t see a cent of it. Put simply if receive an inheritance while you are bankrupt that money will go to your trustee and hence your bankrupt estate. If you are currently bankrupt and or just considering bankruptcy and you think

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

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

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