You have landed on one of Australia’s best bankruptcy advisory teams, Fix Bad Credit. If you’re desperate, ready to stop those harassing debt collectors calling and looking for a debt solution to relieve your financial stress, you’re going to need help. Regardless of where you live in Australia, the expert team at Fix Bad Credit can make those phone calls go away and help you get back in control of your finances. Bankruptcy has no borders in Australia.

Bankruptcy is a legal process where you’re declared unable to pay your debts. It can release you from most debts, providing relief from the stress and allowing you to make a fresh start. However, it isn’t a decision that should be taken lightly, as bankruptcy can have a significant impact on your life.

It’s Fix Bad Credit’s job to present the options to help you find the best way to hit the reset button, clean the slate, and get on with life without debt holding you back

At Fix Bad Credit, we start by getting an in-depth understanding of your debt situation in order to develop a tailored solution that meets your current and future financial and personal goals. We then present to you your options for debt relief so you can make an informed decision about what’s best for you. Once you decide on the option that is best for you, we are more than happy to continue to help, making the process as painless and stress free as possible. Our highly skilled, experienced debt solution experts will care of all the uncomfortable requirements throughout the entire process, as you get on with living with your life. Ensuring that when it’s time to come out the other side of bankruptcy, you are in the best shape possible to rebuild your financially secure future.

Below are some matters that you really need to assess and consider before entering into Bankruptcy:
Property/Assets – Some assets may be used to cover your debts.
Your bank account – If you have over a certain amount of cash on hand in your bank account, it may be used to cover your debts.
Money or property received while you are bankrupt– If you inherit or win money or property while you are bankruptcy, it will be impacted.
Paying contributions – If you earn over a certain amount, you may have to pay contributions towards your debts.
Work – Some industries will not allow those that work in the profession if they are bankrupt.
Company Director – You can only be a director of a company or otherwise actively involved in the management of a company, if approved by the court.
Credit, rental property and other services – Your credit report will be impacted for up to 5 years or 2 years from your discharge, whichever is longer, and will be publicly listed on the National Personal Insolvency Index indefinitely. It may also have an effect on your ability to rent property, access telecommunications and other services.
Restrictions on borrowing and trading – you can only borrow up to a certain amount, accept goods on credit or hire purchase up to a certain value, or offer to supply goods or services up to a certain value without disclosing to the lender or customer that you are an undisclosed bankrupt.
Overseas travel restrictions – You can only travel overseas with the permission of your trustee.
Limits on legal proceedings – You can only take or continue legal proceedings without the permission of your trustee except in relation to personal injury to you or your family.

Each and every person’s situation is different. At Fix Bad Credit, we strongly recommend you speak with one of our debt experts to get an understanding of how your own personal and financial circumstances may be impacted.

Debt is one of the few stressors in life that doesn’t go away. The worry is always there, along with the feeling that there is nothing that can be done about it. Money and debt worries cause heavy emotional and mental burdens, affecting your health, your work and your relationships. But just know you’re not alone. If you’re feeling overwhelmed by money matters, we’re here to help you find relief from your debt stress. Talking about debt can be daunting. It’s hard to know where to start or what your options are. However, you can take a small step right now by picking up the phone.

For more information on what might be the best option for you, call one of Fix Bad Credit’s debt experts on 1300 406 172. Our debt experts can help you assess your financial situation for free and identify debt solution options tailored for your specific personal financial circumstances, using their in-depth knowledge of credit law and debt processes.

The economic impact of COVID-19 is creating significant challenges for both individuals and businesses. As a result, commonwealth legislative changes came into effect from 25 March 2020 to provide immediate relief for people facing financial difficulty due to the economic impacts of COVID-19. The temporary changes included:

As of 1 January 2021, those temporary changes have ceased. An amendment has also been made to adjust the bankruptcy threshold. This means:

Your Fix Bad Credit bankruptcy advisor can keep you advised of any other changes to the bankruptcy legislation, if and when they come into effect.