What is a Controlling Trustee? A Controlling Trustee is usually an insolvency accountant (i.e. an accountant who is registered with AFSA as a Trustee in Bankruptcy) but a solicitor can also act as a Controlling Trustee. If you appoint a solicitor, they need to be a member of the Insolvency Practitioners Association of Australia. One advantage of appointing a Registered ...

What is a Debt Agreement Proposal? A Debt Agreement proposal is an offer made in the form of a contract between you, your creditors and your Registered Debt Agreement Administrator. It must contain your personal financial information and your offer to settle your unsecured debts. Your proposal must be set out in the approved form supplied by AFSA and the ...

Entering into a Debt Agreement will not always mean that you will have to sell your car but given many different scenarios can arise each case needs to be reviewed individually. At Debt Free Australia we offer a free debt assessment. Let explore some of the more common situations we come across. What happens if my car is leased? If ...

Entering into a Debt Agreement will not always mean that you will have to sell your house, but there are some situations where you would need to sell it, which we will explain in this article.  There may also be circumstances where it may be more beneficial for you to surrender your house to your mortgagee and allow it to ...

Asking for help isn't easy. This is especially true when it comes to financial matters. Maybe you feel ashamed or too proud to admit that you have debt problems. Whatever your concerns or anxieties are, you should never ignore the underlying problem. It is very unlikely that the problem will solve itself. Ignoring the problem can lead to unnecessary stress ...

What is a Personal Insolvency Agreement? A Personal Insolvency Agreement (PIA) is an alternative to Bankruptcy and is laid out under Part X of the Bankruptcy Act.  For this reason a PIA is also known as a Part X. A PIA is similar to a Debt Agreement in that it is a legally binding agreement between you and your unsecured ...

Poor budgeting can worsen your debt problems. Creating a strict but realistic budget should be the first task for anyone in debt. All debt solutions require strict discipline and if you don’t stick to your budget you are unlikely to achieve your goal of becoming debt free. In this article we talk about some tips as to what you should include ...

Debt Consolidation loans explained If you have multiple accounts and are struggling to remember the due dates for each account, you may wish to apply for a debt consolidation loan.  A Debt Consolidation loan will enable you to combine all of your payments into one easy monthly payment. The ease of only having a single payment each month to remember, ...