Avoid Credit Card Debt
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Based on Australian Bureau of Statistics, full-time adult ordinary time earnings rose by 4.7% for males and 4.1% for females in the twelve months to May 2011. This is very encouraging news for Australian to pay their past credit card debt faster.
In the twelve months to May 2011, full-time adult total earnings rose by 4.8% for males and 4.3% for females. The simple way to kill credit card debt are: Stop getting a new credit card and spend less. You would be surprise how much money you may save!
If those things above still cannot be avoid, then you may contact us before declaring bankrupt. We may have better solution other than bankruptcy.
Transactions to Defeat Creditors
Get Debt Free » Blog » Archives for Bankruptcy
If a person enters into a transaction (prior to becoming bankrupt) with the prime purpose of the transaction is to defeat creditors (ie keep the money or property out of the reach of their creditors) then in certain circumstances the transaction (after bankruptcy) can be set aside by the Bankruptcy Trustee.
There is no time limit involved under this section. The trustee can void transactions made at any time before the bankruptcy, as long as the conditions as set out in the Bankruptcy Act have been met.
