The Australian Government has temporarily changed bankruptcy law to help protect people who are facing unmanageable debt as a result of the economic impacts of COVID-19.
You could face personal bankruptcy if you can’t pay your debts.
If you're in financial difficulty you can now apply for temporary debt protection; this prevents recovery action by unsecured creditors for six months. You can use the time to:
In addition, the temporary debt relief measures have increased the:
If you're concerned about your finances, as always, please contact us on 8538 7266.
Article posted on Thursday 14th May, 2020