Bankruptcy Cassowary Coast Blog
Although bankruptcy has many financial repercussions, it surely does not mean the end of the world. Many people file for bankruptcy for many reasons, and this figure only increases with the harsh economic conditions that we witness today. According to statistics from the Australian Financial Security Authority (AFSA), there were 7,466 episodes of bankruptcy in […]
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Lots of bills? Too much debt? Not nearly enough money? Most people struggle financially at some point in their lives. Uncontrolled incidents such as hospitalisation, job loss, or even divorce, can seriously alter your financial circumstances. Yet, when there’s no other way to suitably handle your debts, some folks are forced to file for bankruptcy. […]
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Personal bankruptcy is never the ideal predicament to be in, however lots of people find relief in dealing with their financial problems and starting afresh. No one is perfect, and people make mistakes. But too many individuals put off filing for bankruptcy for far too long. They would prefer to ignore the elephant in the […]
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Everyone experiences challenging times in their life. Loss of employment, serious illness, and unplanned pregnancies are just a couple of these. A leading reason why these events are so stressful is because financial troubles are typically accompanied with them. In many cases, financial difficulties are the leading cause of divorce, and conversely, divorce can be […]
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For most people, Christmas is viewed as the most delightful time of year for both young and old. Most of us are thrilled to finalise 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 too much […]
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Whenever people stress over Bankruptcy, they fret about just how it will impact their day-to-day lives, and whether they will be able to retain their house, vehicle, tools, and other important belongings. Among the ways that we can estimate this out is by using the insolvency means test. It is something that we take our […]
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If you are overcome by debt and you are having a look at Bankruptcy, there are normally 3 effects you have to look at to begin with. Income Loss For the 3 years you are bankrupt you may have to contribute some of your income back toward your debt despite being bankrupt. (see table below). […]
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Easily the most significant issue many have with Bankruptcy is without a doubt ‘Will I manage to retain my house?’ and it may be complicated, but sometimes it is achievable. The only good reason where you will be required to sell your family home when you declare insolvency is if you have equity in the […]
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My mission today is to try and alert you about likely problems you could have with Bankruptcy so that you can avoid making errors! When it includes Bankruptcy, there is lots of confusion and false information because of how complex it can be, and how emotionally charged a lot of people are whenever they are […]
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Amongst the most significant inquiries we get when it comes to Bankruptcy is if you may lose your business if you declare bankruptcy. The short answer is no, you are not likely to lose your business unless you want to. When it comes to Bankruptcy, if you are a manager of a company any shape […]
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