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Leon
Leon, Solicitor
Category: Australia Law
Satisfied Customers: 44151
Experience:  BEc Dip Ed, Dip Law (SAB) MTax (UNSW)
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I am now unemployed lost my business and on center link

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I am now unemployed lost my business and on center link payment I cannot find another job due to age and color discrimination. I have credit card debts which I cannot afford to pay anymore so my name is ***** ***** the bad creditor listing. Is there any possibility of me being salvaged from this situation?

Good Morning.

My name is ***** ***** I am a NSW Solicitor. Thank you for your question, and will do my best to assist you with your question. Please understand I am very limited on what I can tell you and that you may have to get more detailed advice.

Do you have any assets?

Customer: replied 8 months ago.
some lawn mowing business equipment and household stuff

Does the lawn mowing business have any value?

If that is it and there is no value you can declare bankruptcy. This will stop you borrowing money for 3 years etc but the debts will disappear.

Your household items will not be touched.

As there is no real estate or anything of value they will leave your finances alone.

You cannot have your credit history changed because you have defaulted.

It will remain there for 5 years as will the bankruptcy but you will be debt free after 3 years. Make sure you have all contracts for phones its established before the bankruptcy as you will have difficulty getting them after.

I hope this makes sense and is of assistance. If there is nothing further

thank you for using my services.

If I have missed anything, or you have any further questions please let me know

If there is anything else in the future please do not hesitate to ask.

Please do not forget to leave positive feedback.

Regards

Leon

Customer: replied 8 months ago.
I sincerely ***** ***** response. My only other question is can i establish another different business after declaring bankruptcy?

Good Morning.

Once you are discharged then yes you can establish another business.

Leon and other Australia Law Specialists are ready to help you