What information is recorded about your insolvency?May 20, 2020
Can i get finance while in an insolvency agreement?May 20, 2020
- Firstly, part 9 debt agreements are suitable if you are on a low income; and fit within the DA thresholds.
- Secondly, full bankruptcy is most suitable when there is no income, or limited assets that a trustee can sell.
- Thirdly, home loan debt consolidation can be suitable with sufficient equity and income.
- Also, unsecured personal loan debt consolidation usually has minimal benefits. As the loans are unsecured, the lender policies are very strict. Plus, can result in small loan amounts & high-interest rates.
- Finally, informal payment agreements are usually established to reduce payments. However, payment terms can be quite long, and you may find you have the same amount of debt after many years.