If you have unmanageable debt and your weekly income doesn’t cover your day-to-day living expenses, you might be facing personal insolvency. Personal Insolvency is defined as a situation where you are unable to pay your debts when they fall due.
If you have unmanageable debt and your weekly income doesn’t cover your day-to-day living expenses, you might be facing personal insolvency. Personal Insolvency is defined as a situation where you are unable to pay your debts when they fall due.
Topics: Bankruptcy, Personal Insolvency
Entering bankruptcy does not normally prevent you from working. However, when you earn as a bankrupt, you may be required to pay income contributions towards your bankrupt estate. Whether you pay, and how much you pay, depends on your income.
Topics: Bankruptcy
Personal Insolvency tends to lead to Bankruptcy or a Debt Agreement. If a company is found to be Insolvent, it is possible that it will lead to Liquidation,
Topics: Bankruptcy, Company Liquidation, Director Advice
If you've been made bankrupt, you are probably worrying about your house being sold out from under you. The good news is, it's not set in stone.
Topics: Bankruptcy
After years of working to build your business from the ground up, the thought of losing it all because your personal finances are dire is a nightmare. It is still possible to keep trading as a sole trader if you are bankrupt or personally insolvent.
Topics: Bankruptcy
Bankruptcy is a tough reality to face. It has a range of obligations which impact your life. People entering bankruptcy must also face the stigma associated with it. The introduction of the Bankruptcy Amendment (Enterprise Incentives) Bill 2017 is set to ease these burdens.
Topics: Bankruptcy
