Are your funds drying up? Do you feel anxious every time the phone rings or you access the ATM? Does the daily trip to the mailbox make you fearful?
If you identify with any of the above, you are no doubt looking for a way out. For many struggling individuals, bankruptcy tends to be at the forefront of their minds.
But according to the bankruptcy experts at Debt Free Australia, it is important to have a thorough understanding of the consequences of bankruptcy and any alternatives that might be available, and to reserve bankruptcy as one’s final resort.
When you become bankrupt:

• Your assets may be sold to repay creditors
• Your income and employment may be affected
• You may not be released from all of your debts
• Your ability to travel may be hindered
• Your name will appear on the National Personal Insolvency Index permanently
• You will receive a mark on your credit file, affecting your ability to obtain loans
• Your bankruptcy period will last for a minimum of three years

For these reasons, looking into bankruptcy alternatives, such as a Debt Agreement or Personal Insolvency Agreement, is strongly recommended before committing to bankruptcy. Amongst other advantages, these personal debt solutions allow one to negotiate with their creditors to come to an agreement which may significantly reduce the amount of debt to repaid, without all of the negative consequences of formal bankruptcy.
The professional team at Debt Free Australia are qualified bankruptcy experts who administer hundreds of insolvent cases every year and fully understand the implications of bankruptcy.
Don’t take the risk of working with unregistered professionals; the DFA bankruptcy experts are qualified, knowledgeable, and have many years of experience in the industry, making them the best choice to take on your case.
So for the lowest price insolvency and bankruptcy services from registered bankruptcy experts that you can trust, choose Debt Free Australia. Contact our 24/7 hotline on 1800 462 767 and receive professional financial advice at any time you need it most.

Have you ever found yourself tempted to spend more than you can comfortably afford when making purchases with a credit card?
This is a familiar dilemma that many Australians face on a daily basis.
Credit cards provide a whole range of benefits, from the ability to borrow from the future during times of financial difficulty to maintain a constant standard of living, to the simple convenience of carrying a card instead of cash.
However, research suggests that credit cards can psychologically stimulate overspending, leading to long-term debt problems for many Australians.
Overspending with credit cards is common because:

1. The average credit limit is usually a multiple of consumers’ monthly incomes. A limit that high can make it easy to overspend.
2. Credit limits can also help purchases appear small. For example, a $10 chocolate bar might seem less expensive when compared to a $5,000 credit limit.
3. The minimum payment is generally only 2% of the total balance. This makes it very easy for consumers to be tempted to make a small payment today to get through the month and worry about actually paying off the debt later.
4. Credit cards make it easy to splurge. Research has shown that people are often willing to pay double the price for an item when using a credit card as opposed to cash, because it is less psychologically painful to swipe a credit card than it is to physically hand over cash.
5. Credit can psychologically stimulate the desire to spend money. A series of experiments conducted in the 1980s suggests that consumers are conditioned to associate credit card logos with consumption and purchases.

If your credit card debt has snowballed into a serious problem and you are in need of a professional debt solution, contact the insolvency experts at Debt Free Australia (DFA) today. We can provide free professional financial advice on your debt problems, as well as help you to find an appropriate debt solution, should you require one.
Talk to our friendly staff now by calling our free 24 hour hotline at 1800 462 767. Don’t delay taking action – begin your journey to a debt free future today!