Debt reduction services usually take the form of an informal or formal arrangement with your creditors. To understand the differences between informal or formal arrangements with creditors click here or read below. Informal Arrangements If you have multiple creditors and are struggling to keep up with all of the repayments you may wish to consider an informal arrangement with your creditors ...

Are you getting stressed by constant creditor demands?  Don’t ignore the warning signs - those demands can quickly escalate to court action. If left unattended this will result in your bankruptcy…That's how serious it can get. Stress from debt can affect your health. If you are concerned take our 2 minute debt stress test. Please consult your doctor if you are concerned that stress is causing health issues. So, how do you get ...

If you have recently applied for a debt consolidation loan but were refused, there may be several reasons for this: firstly, you have a poor credit record or payment history? secondly, you don't have any assets which could be pledged to secure the  loan? If you were refused on the basis of having a poor credit record or poor payment ...

Many people ask the same question - will I be prevented from getting a home loan in the future if I enter into a Debt Agreement or a Personal Insolvency Agreement? The answer is: not necessarily. It will of course depend on your financial circumstances at the time and the lender as each lender will assess your application differently using ...

What debts can put your home at risk? Do you have a credit card, personal loan or store credit which exceeds $5,000? If you do and you fall behind in your payments or stop making payments, any individual creditor owed $5,000 or more can petition for your bankruptcy. How does bankruptcy affect your home? If you are made bankrupt and ...

The key to having a good credit record is to pay your bills on time. However, not everyone lives in a perfect world and it isn’t always possible to pay your bills on time. In fact we find that many people sink into debt over a period of time and don’t realise the significance of the problem until they can’t ...

It is very important that you be aware of offences in bankruptcy. Some bankruptcy offences can lead to prosecution and imprisonment or fines. It’s important to know what counts as an offence in bankruptcy. Below is a list of the more common bankruptcy offences: makes a false statement in an affidavit (Sec 263A of the Bankruptcy Act). a creditor proving ...

Did you know that, if you’re in debt, there is a way to pay it off as one loan instead of many little ones? It’s called Debt Consolidation. There are many ways of doing this, but the principle is always the same. Being in debt is a very stressful and tricky process. You must keep up with monthly payments, and ...