Blog Posts
How to Deal with Mortgage Stress?
Worried about how you’re going to make your next mortgage payment? Unfortunately, you’re not the only one right now. New research from Roy Morgan shows an estimated 762,000 Australians were ‘At Risk’ of ‘mortgage stress’ in the three months to March 2022. This equates to over 17% of...
What is a Part 9 Debt Agreement?
Have you heard about Part 9 Debt Agreements recently and are curious to know more? Well, read on as I’ve attempted to answer most of the common questions that we receive about this type of debt agreement. A Part 9 Debt Agreement is also known as a debt agreement, and you may also...
How To Reduce Your Mortgage Payments?
Getting a mortgage is one of the biggest financial decisions you will make in your life, as for most people it is your single biggest loan, and the repayment terms are normally for 25 to 30 years. Yet, many people spend more time researching their new mobile phone purchase than what...
How Long Does Credit Repair Take?
If you've ever applied for credit or a loan, there will have a credit report. If you have a poor credit score or an error in your credit report, it may affect loans or credit you apply for, so it pays to try to fix it as soon as possible to reduce its potential side effects on your...
How to Survive Bankruptcy in Australia?
It’s hard to miss all the news stories at the moment about companies declaring bankruptcy. But what is bankruptcy, and more importantly, how do you survive bankruptcy in Australia? Bankruptcy is a formal legal process where you’re declared unable to pay your debts. When you become...
Can you file bankruptcy when married ?
If you are married, or in a de-facto partnership, and are considering filing for bankruptcy, you need to understand how this decision will affect your spouse or partner. Declaring bankruptcy is a major decision that could have significant long-term financial and legal consequences...
How to Reduce Taxable Income in Australia?
I get it, even thinking about doing your tax return is intimidating for many. But if you know you’ve done the most you can to minimise how much tax you pay, and instead maximise how much of your hard-earned income stays in your own pocket, then at least you can feel a sense of...
What is a Debt Management Plan and how does it work?
We’ve all heard this, and similar sentiments before...“ a failure to plan is planning to fail”. I don’t know about you, but I can’t get through a day without someone on at least one of my various social media channels sharing such quotes, supported by their own pearls of wisdom, and...
How to Remove a Paid Judgement From a Credit Report
Your credit report (also known as credit file), and the related credit score (or rating), is a record of your history with managing credit and paying your bills on time. Banks and other potential credit providers use this information to determine how creditworthy you are, or the...
Are Bankruptcy Filings Public Records?
Filing for bankruptcy in Australia is a serious decision, and it is important that you are aware of the implications of declaring bankruptcy before you make it. Bankruptcy can have a significant impact on your financial situation for several years, however it could be a suitable...
What is a Good Credit Score in Australia?
A credit score is a number that determines your creditworthiness, or the likelihood that you will pay back any money that you borrow. It helps lenders to make informed lending decisions based on the risk of lending you more money. The higher your score, the more reliable you’ll...
The Effect of Afterpay and Zip Pay on Your Credit Score
Buy now, pay later (BNPL) giants Afterpay and Zip Co (which offer Zip Pay) report almost five million customers across Australia and New Zealand combined. So, it’s likely that you’re one of them. But do you know what are the effects of Afterpay and Zip Pay on your credit score?...
What is a Mortgage in Possession – And How Do I Handle It?
If you have taken out a mortgage, you must know the repercussions of not making your due mortgage payments. A mortgagee in possession is one of the many unfavorable situations that you could face if you default on your mortgage payments. . In this article, we will explain the...
What Happens To HECS-HELP Debt Upon Your Death
What Happens To HECS-HELP Debt Upon Your Death? A HECS-HELP loan (which you may also know as student debt) has eased the financial burden of attending university for thousands of Australians. In fact, according to the parliamentary library, more than 2.9 million Australians have an...
What is Buy Now Pay Later?
Whether we like them or not, Buy Now Pay Later (BNPL) platforms have changed the way many Aussies pay for things, but do you even know what they are?In this blog I’m going to cover: How you can legally take something from a shop without paying for it. BNPL platforms - the new hybrid...
The pros and cons of declaring bankruptcy in Australia
Filing for bankruptcy is a serious decision, and it is important that you are aware of the pros and cons of declaring bankruptcy before you make it. Understandably, no one wants to consider bankruptcy, as it can have a significant impact on your financial situation for several...
If you’re planning to buy property you need to read this first
LOOKING FOR AN ESCAPE PLAN? 7 STEPS FOR MAKING IT WORK Are you one of the millions of people in lock down in NSW or Victoria, feeling trapped in a small apartment with rowdy kids, or with housemates that are driving you crazy? Fed up with the uncertainty? Well, you’re not alone! A...
Bankruptcy Due to Lockdown
There’s no denying that the extended COVID-19 lockdowns being imposed, initially in Melbourne and Sydney, and now more regionally in NSW, thanks to the emergence of the highly infectious delta variant, are starting to bite. While this measure is integral for our health and safety,...
Can I get finance if I have a bad credit score?
With a recent report stating that almost 1 in 4 people in Australia having some form of an adverse listing on their credit report, it’s not surprising that we are commonly asked if someone can get approved for finance with a bad credit history. So, if this is something you have...
Low interest rates – are they good or bad?
A worldwide pandemic like COVID-19 will always dominate the news, however, there are many other hot topics that regularly make news headlines. In recent times think Olympics, elections, natural disasters, the royal family shenanigans – there is certainly no shortage of material for...
The COVID Car loans boom in Australia and what it means for Business
With months of being in lock down that’s to the Pandemic, More and more Aussie than before are keen to hit the road with vehicles. In an ABS recent figure care finance commitments have increased by 4.7 per cent in the month of May this has meant the total value of new commitments...
Who benefits from the Government stimulus package.
The COVID-19 pandemic has caused major widespread economic costs, significantly impacting economies across the world. In response, many Governments’ released stimulus packages to keep their economies alive. The Australian Government introduced it’s “HOMEBUILDER PROGRAM “. Who...
Credit Repair And Debt Negotiation Industry Major Shake Up
In September 2020 the Australian Government announced its intention that companies offering debt management and credit reporting assistance will be required to hold an Australian Credit Licence. Treasury provided the below summary for the rationale behind this: “An element of the...
Do you want to know how to fix your credit rating?
Your credit rating can have a major impact on your ability to live the life of your dreams, but do you even know what it is? Most people don’t learn about their credit rating until it is too late, so in this blog I am going to share: What your credit rating is and how it is the same...
How To Increase Your Net Worth Without Spending A Cent
In recent blogs I've been talking a lot about investing in your money, but do you invest in your relationships? We can spend a lot of time dreaming about increasing our net worth but do we spend too much time focussing on the wrong set of assets? In today's blog we are going to look...
How You Can Become a Money-Making Machine!
In previous blogs I have discussed the importance of setting goals (Check out the blog How to reach your goals faster). Yet are you wondering how you'll ever make enough money to achieve them? Well, this may surprise you... You don't have to have a huge income or win the lottery to...
3 Common Mistakes People Make When Investing, and How to Avoid Them
Making money is more fun than losing it! Yet the biggest mistake that a person can make when it comes to investing is failing to even start, and it is the fear of making mistakes that contributes to this number one mistake. On the other hand, the second biggest mistake are those...
The Psychology Of Saving and How You Can Beat The System
There's no doubt about it, saving money can be hard work. According to ME Bank, around 48% of us Aussies have less than $10,000 in savings (including savings accounts, term deposits and offset accounts). That includes fewer than 21% that have less than $1,000 in savings. But why is...
Interested in making money while you sleep?
In the previous blog, we learnt that the worst investment we can make is exchanging our time for money. Instead, if we really want to live the lives of freedom we deserve, we need to pursue opportunities for other streams of income. We need to start making money while we sleep! But...
