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Bankruptcy Case Study: On a single aged pension

Joe* had not long retired. He formerly worked in a physical Job but could no longer do that. Joe is now on the single aged pension which is quite tight. He does not own any property and only has a cheap car. When we did Joe's budget, he still had nearly $30,000 in credit card debt. He…
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Bad Credit Preventing You From Refinancing Your Home

The cost of having to sell your Home? If you have substantial debts you may have got to a stage where you now have bad credit and the bank wont let you Consolidate your debts. You may now be considering selling your home, with the intention to re-enter the market later. Take a look at the chart…
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Is Borrowing Money Off Your Relatives a Better Option

We often find that people prefer to borrow money off their relatives or friends than to offer a Debt Agreement . This often burdens relatives unnecessarily and quite often makes no difference overall to their debt position. The payments you need to pay back a loan to a relative, will nearly always be higher than a Debt Agreement,…
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Case Study: Self Employed Tax Bill Debt

Mark was self employed as a building Contractor. Unfortunately, Mark had a heart problem and was unable to work for 6 months. Mark spent the money he had put aside for tax during this period and now has a very large Tax bill. The rates and home loan have fallen behind and the credit cards…
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Case Study: When a Family member gets You in Debt

Michelle went guarantor for her Sons Business. Her son’s business has gone broke, now the Creditors are chasing mum for $157,000 and demanding full payment. They are threatening to move on Michelle's home. Michelle has her own cards and additional loans to pay as well, they total $29,000. Michelle's Home loan is down to $76,500…
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Case Study: The Little Coffee Shop of Horrors

Mia and Neville have a small business. It is a coffee shop on the outside of a shopping Centre. The Shopping Centre has decided to develop and extend the Centre and the mess they are making has severely disrupted their business. It looks like access will be disrupted for a good 18 months but the…
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Case Study: Mining Boom to Financial Trouble

Trevor and Frieda were on good money as Trevor had a great Job in the mines.  Unfortunately, with cutbacks in the Industry Trevor was retrenched. Trevor was out of work for a long time and his Boat and Car were repossessed.  He has had to sell the house. The loans were in joint names. Trevor…
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Joint Debts and Partners

Many people come to Fast Debt Help, who have joint debts with a partner. First and foremost you must realise that if the debt is joint, each person will be treated as if they owe the total debt. So if one person does not, or cannot pay, the creditor is entitled to chase the other person for…
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Case Study: Saving James Banking Job

James has Credit Card and Personal Debt, but works in the banking Industry. If James was to do a Part IX Debt Agreement his  employment may be terminated as he works in a credit sensitive part of the bank. However his debts have got out of control. He had a car accident in his wife's…
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Case Study: When Heart Problems lead to Tax Problems

The Situation John had a small business as a truck driver and courier. He has a Partner who doesn't earn a lot of money. Unfortunately due to stress and over work John had a heart attack. He was off work for 3 months and now has to be careful how many hours he works. John…
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