You will not be bankrupt if you seek one, but you will have committed an act of bankruptcy. There is a huge difference between the two although there are ramifications to a debt agreement – huge benefits also, if you fit the criteria.

If you would like to know more about this legally binding agreement between yourself and the people you owe money to we would be pleased to discuss your options confidentially. Our consultants are qualified individuals with expansive experience in debt solutions.

Feel free to contact us at www.debtescape.com.au or call 1300 661 671 Credit Counsellors Australasia.

Talk to an expert today. We will explain the benefits and the ramifications of seeking a settlement from your creditors. Licenced to advise, expert in the debt solutions area and qualified to deal with your difficulties.

Check the internet today. www.debtescape.com.au or call 1300 661 671 Credit Counsellors Australasia.

If you are a tradesperson with serious debt issues contact the experts at www.debtescape.com.au or call 1300-661- 671 Credit Counsellors Australasia

The improvement comes after households cut spending and boosted saving during 2011.

The urge to get rid of debt means that by the end of 2011fully 17% of Australians had discarded their credit cards.

ING Direct stated that the bank found that 65% of households across all income levels improved or maintained their financial position in 2011.

If your household isn’t doing so well and you have a debt problems then consult the experts at www.debtescape.com.au or call 1300-661-671 Credit Counsellors Australasia.

If your financial future looks bleak then contact us today at www.debtescape.com.au or call 1300 661 671 Credit Counsellors Australasia

• Rent
• Food
• Car & petrol
• Entertainment
• Clothing; etc

Spend less or no money on all of the following:

• Hairdresser
• Takeaways
• Movies
• Motor repairs
• Utilities – gas, electric
• BBQs
• Pay TV
• Computers
• Newspapers & Magazines
• Snacks
• Clothing

Lifestyle Changes

• Resolve to stay at home and put the money you would spend against debt
• Use a credit card that gives maximum points that can be off-set to purchases
• Set a budget and live within it
• Explain the debt situation to your children & close family
• Rely on ‘need’ rather than ‘want’.
• Reduce meat in the diet
• Work with just one credit card – the best rate card

We highly recommend you buy the book “Hoe to cut your debt to zero in 5 simple steps” written by Adam Goulding also known as Mr. Home Budget.

If your debt situation has become so bad that you just can’t pay your bills from your income then you need help, and quickly before it rockets out of control.

Check the internet today. www.debtescape.com.au or call 1300 661 671 Credit Counsellors Australasia.

You are not alone – thousands of people are in your situation. Don’t lose your assets just because you ignore a summons for payment – that’s the worst thing you can do. Contact us today and we will advise you what your best option are for 2012 and beyond.

Check the internet today. www.debtescape.com.au or call 1300 661 671 Credit Counsellors Australasia.

Corporations are filing insolvency and unemployment is rising as a result. Consumers are packed between a rock and a hard place – rising fuel and food costs and nowhere to turn. Your new year could be much better if you resolve to control your debt, put your credit card away and finally sit down and do a budget of your available finances. If your debt situation is getting out of hand there are ways to resolve those issues as well.

You can obtain free, confidential and expert advice on how to deal with your debt from a federally licenced debt solutions adviser so you shouldn’t delay.

Check the internet today. www.debtescape.com.au or call 1300 661 671 Credit Counsellors Australasia.

Benefits:

*  Creditors will leave you alone

*  Your payments are managed & audited for peace of mind

*  There is no stigma attached like in bankruptcy

*  You will make an offer that if affordable in your circumstances

*  You won’t lose your house or car provided the payments are made

*  You will not lose your passport

*  You will be free to go about your daily life without hindrance.

But, if the borrower ultimately falls into insolvency and seeks debt relief by proposing a debt agreement the lender may find themself high & dry. That is unless there is a full written record of the transaction.

Because inter-family loans can so easily be contrived the law is clear that a related entity loan is subject to only a 50% of value vote.

Recently, ITSA rejected a family member’s claim in its entirety because the 50% value vote was sufficient to ensure acceptance of a debt agreement proposal, even though one institutional creditor had voted negatively.

ITSA claims it has the right to reject a vote under the voting rules but the law appears mute on this issue.

In support of the claim the family lender offered a statutory declaration only to be advised that it may not be sufficient.

Sufficient? There is no requirement under Part IX for any creditor to provide a Proof of Debt, as in bankruptcy, and the arbitrary rejection of the family member’s vote on a hunch that it may not be valid is unacceptable.

What else is unacceptable is that the family member’s vote does not appear to have the same weight as a commercial vote.

Clearly when one family member lends to another the transaction will have to be fully documented if there is any possibility of obtaining a return.