My budget couldnt help us. After doing their second consultation we have no money to work with... we fall into the minuses so they cant write us up a budget. Even if we were to cut off our phone/internet we still have other expenses which are already as tight as we can make them. She mentioned bankruptcy as being the only option i have without dragging DP down with me and saving us from legal proceedings.. my credit rating can't get any worse so a clean slate would work for us.
I'll be calling ITSA later to go through the paperwork.
We're still screwed as it doesnt help us now so in no way am i benefiting but its one less thing to worry about. And in 6 months when we have more money we can try catch up on other things.
Thanks n2l. These were read out to me by ITSA the other day when i phoned but i just had a good read then. Nothing really worries me as most of that won't affect me for a while. Most things are already in DP's name. The next 3 even up to 7 years i don't see myself earning a great deal of money as i will be working only part time and studying mostly.
I will however chat with ITSA completely, actually they gave me the number of a financial counsellor here in canberra i can go chat with.
I really want to thank everybody for being so supportive and offering all kinds of advice.
The house we are in is long term lease so we see ourselves here for atleast another 5 years, unless of course in the future the owners change their minds but we have been good tenants and theyre really happy with us. I think we would just need someone to guarantor on my behalf or something.
It depends. I have rented three times since becoming bankrupt, twice through the same agency, and once privately. Has seemed to make no difference. As long as you have a good record with paying your rent you should be ok. Fo the record, we have never missed or been late with rent or mortgage payments.
However, you will not be able to travel overseas without your trustee's permission. Your name is placed on a customs watchlist. You wont be able to get cheap insurance either. You will not be able to get a new mobile contract with a different provider (trust me, I've tried). You will have no form of credit for the next three years unless it was pre-existing. You will then need to build your credit rating back from scratch and may need to jump through a great many hoops just to get a small loan or hire purchase agreement.
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