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

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

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

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)