What You Need To Know: Changes to Bankruptcy Laws On 24 March 2020, the Federal Government announced temporary changes to bankruptcy laws to provide support for individuals facing bankruptcy due to the economic impact of COVID-19. These changes were to last six months originally from 25 March 2020 and include: ● A minimum debt threshold increase from $5,000 to $20,000
Month: November 2020
How Bankruptcy Gives You a Fresh Start
Declaring voluntary bankruptcy is sometimes the best step to take to start rebuilding your life if you have unmanageable debt. Bankruptcy will release you from unmanageable unsecured debts. Unsecured debts are amounts owing that aren’t tied to any form of security (like a car or a house). Most of the time they are credit cards or personal loans where there
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