NewsBorrowing following a debt agreement
posted 8 Sep 2016
A decision to enter a debt agreement is usually preceeded by a period of financial difficulty and debt anxiety. Consequently few people take into consideration the impact of a debt agreement on their ability to borrow in the future. Nonetheless it is important to understand and take on board before choosing a debt solution. What is a Debt Agreement? A debt agreement is a binding agreement under Part IX of the Australian Bankruptcy Act 1966. The agreement is documented between Continue Reading
What can a Debt Agreement offer you?
posted 12 Jul 2016
Debt Agreements offer an effective debt solution for people who have significant unaffordable unsecured debt. However individuals who are on a high income or those who have a mixture of secured and unsecured debt may find that a Debt Agreement is unsuitable for their circumstances and alternative debt remedies need to be investigated. Debt agreements can have some adverse affects on the individual’s credit history and therefore a decision to enter a debt agreement should not be made lightly. What Continue Reading
Common mistakes in using credit cards
posted 20 Jun 2016
Credit cards are not at all the “evil” they are made out to be in the media. I like using credit cards and do so regularly. The problem is not in the credit cards themselves, but rather in how they are being used and misused. Lets consider the analogy of a knife – we all use it for cooking and it is a great implement. However some misuse it by using it as a weapon against others. The problem is Continue Reading
Experiencing Mortgage Hardship?
posted 10 May 2016
Given the recent downwards movement in interest rates, many borrowers have been fully focused on paying down their mortgages as fast as possible to give themselves an equity buffer in case something goes wrong. However if you have recently lost your job, experienced a business downturn, or a period of unforeseen illness there is something that you can do to protect you and your family from loosing your home or going bankrupt. Speak to Your Lender The first step to Continue Reading
Is debt consolidation always the best solution?
posted 5 Apr 2016
Debt consolidation is the process of putting all your outstanding debts into a single loan thereby supposedly saving money and making debt repayent easier. In reality debt consolidation can take place in many different ways not all of which may be the right solution for every debt ridden borrower. Borrowers who have significant assets but can not meet debt repayments because of low income There are a number of options available for such borrowers. The best option probably is to Continue Reading
Cash is no longer king
posted 22 Mar 2016
It is no wonder that more and more people are finding themselves caught in a web of debt. Cash has become a four letter word with many retailers and service providers not willing or able to accept dollars and cents in payment for their goods and services. It does not matter whether the purchase is a small or a large one. Even your local caffeine traders prefer to see you wave a bit of plastic in payment for a latte, Continue Reading
National Hardship Register may help you
posted 23 Feb 2016
Its all very well if you are working and paying off your debts slowly. You may find the debt repayment process challenging but not impossible. There are multiple debt consolidation and rationalisation options available which may assist to reduce set repayments without needing to damage your credit history or declare bankruptcy. It is much harder to find an effective debt solution for individuals who have no way of repaying their debts no matter what they try. The National Hardship Register Continue Reading
Debts which can wait
posted 31 Jan 2016
Not all debts are equally as urgent. In deciding which debts can not wait you would need to consider the cost of delaying repayment and the impact on your ability to borrow elsewhere. So while credit card debt tends to hold the number one priority in the urgency of repayment, followed closely by other loans such as your car loan, personal loan and your home mortgage – other debts can wait and in fact can be paid off over very Continue Reading
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