Manage your debt & Guard your assets

Manage your debt & Guard your assets

Tens of thousands of people file for bankruptcy each and every year.

Generally it’s because they don’t have anything to lose by doing this – but a great many either receive the wrong advice, don’t bother getting advice or are so overwhelmed by their indebtedness that a bankruptcy filing just seems the quick and easy thing to do.

Bankruptcy has consequences

  • Minimum bankruptcy period is 3 years, but may be extended
  • All of your assets, except those exempt in law, will be vested in a trustee
  • Your home, even if it is jointly owned, will be vested
  • Your passport must be surrendered
  • You cannot manage or direct a business
  • You will not obtain any credit
  • Your personal details will be recorded on a federal data base
  • If you hold an occupational licence it will be automatically cancelled
  • You may lose your employment if you are in a position of trust

There are many, many reasons to avoid bankruptcy.

Your financial freedom can be restored and your assets can be preserved by proposing an agreement to settle to your unsecured creditors. That’s the speciality of Credit Counsellors Australasia, Australia’s leading debt solutions advisor.

Debt can be a headache but the reality is that you can make a legally binding agreement and sort out your difficulties today simply by picking up the telephone and speaking with one of our highly trained and qualified debt counsellors.

Guard Your Assets &
Retain Your PEACE OF MIND

At Credit Counsellors your are dealing with the very best in the personal insolvency profession. Our counsellors are highly regarded by all major creditors and hold qualifications in one or more of the following:

  • Accounting
  • Business
  • Commerce
  • Law
  • Advanced Insolvency Law.

We can put you back on track straight away and without paying out huge up-front fees. There are no up-front fees. You simply meet our out-of-pocket expenses. Few if any in our profession will offer you that consideration.

If you’re in debt and can’t see a way out – the way out is right there – just call our office now!!

Your Debt Worries
Can End Right Here!
Call 1300 661 671 Now

Or Contact Us Online

5. January 2010

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Conclusion

Figures released by ITSA for the period 2007/2008 provisionally indicate that total personal insolvency activity continues to increase and during that period it grew by 2.9% to 32,909. New bankruptcies in the June 2008 quarter numbered 7,058. In comparison there was an increase in Part IX debt agreements of 1.6% but during the quarter [...]

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5. January 2010

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Enactment of legislation

By enactment of the Bankruptcy Legislation Amendment (Debt Agreements) Act 2007 and accompanied by regulations effective 1 July 2007, most if not all of the objectives as they relate to debt agreement administrators were implemented and in respect of those amendments the following discussion is offered:
Basic eligibility test
The test is one of ineligibility rather than [...]

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