A Federal Government Data Base.

The National Personal Insolvency Index is a data base maintained by the Insolvency Trustee Service Australia, an Executive Government Agency that oversights and regulates Australia’s bankruptcy laws, trustees and administrators.

The data base is one of public information. The public at large, generally, are unaware of this data base and seldom utilise its resources.

The cost of searching a name on the system is $35 and somewhat prohibitive to both commercial and private enterprises.

Veda Advantage and Dun & Bradstreet in particular download new entries on a regular basis in order to update credit file information.

In Debt! – But Want Credit!

It is not unusual for those in debt who seek assistance to escape their financial crisis to bemoan the likelihood of future credit restrictions. Some refuse to face the reality of their position which simply is one of priority.

Q: “If I do a debt agreement will I be able to get a mortgage?”
A: Probably not during the course of administration.

Q: “Will I be able to keep a credit card?”
A: No, all of your creditors must be included into a proposal and they will cancel any ongoing credit. Obtain a debit card and use your own money.

However many people in debt agreements have been able to obtain credit with a supporting letter from their administrator, always based on capacity to meet the obligation, the currency of the contributions and the situation.

Before considering further credit there must be a realisation that past dealings haven’t been up to par and current debt must be dealt with first and foremost.