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End of Temp Debt Relief – Act now

End of Temp Debt Relief – Act now

If you are like the many who have been struggling with debts and were thankful for the relief given by the government. This news is not good (make sure you are sitting down). All government relief will end on the 1st January 2021. This will mean that debt collectors will begin knocking on the door […]

Payday Lenders Debts – what can I do?

Payday Lenders Debts – what can I do?

In the office we have recently spoken to many potential clients who are reluctant to go into a debt solutions as they feel a duty to ‘do the right thing’ by their creditors (people they owe money to). The Armada team spend a lot of time trying to make our clients understand that the most […]

Small Business Restructuring – In a nutshell

Small Business Restructuring – In a nutshell

The Morrison Government will undertake the most significant reforms to Australia’s insolvency framework in 30 years as part of our economic recovery plan to keep businesses in business and Australians in jobs. The reforms, which draw on key features from Chapter 11 of the Bankruptcy Code in the United States, will help more small businesses […]

Retaining The Family Home In Bankruptcy

Retaining The Family Home In Bankruptcy

There are many statements about the family home, such as ‘home is where the heart is’, ‘home sweet home’ and ‘there is no place like home’. This is because the family home is where cherished lifetime memories are made. The family home is also often the single biggest asset available to a trustee in many bankrupt […]

THE NEW JOBSEEKER RATE IS HERE — HERE’S WHAT’S CHANGED IN SEPT

THE NEW JOBSEEKER RATE IS HERE — HERE’S WHAT’S CHANGED IN SEPT

In September, the Government cut back the coronavirus supplement for JobSeeker recipients and others on some government payments. The $550 coronavirus supplement, which effectively doubles JobSeeker to $1,100 a fortnight, was slashed and other changes are on the way too. Here’s what you need to know. The JobSeeker payment is changing If you’re single with […]

Do you have a Tax debt? Times are a changing – 2 min read

Do you have a Tax debt? Times are a changing – 2 min read

THE ATO AND OUTSTANDING DEBTS It has been stated in many publications that the Australian Tax Office (ATO) is currently owed approximately $20 billion –  This is not a typo, that is “billion” with a “B”. If you have a ATO (Australian Tax Office) debt less than $100k then you may have been advised or […]

How to get Debts under control – 2 min read

How to get Debts under control – 2 min read

Owing money or falling behind on repayments can be stressful. The good news is there are steps you can take to relieve the financial pressure. 1. Know what you owe The first step is to get a clear picture of what you owe. Make a list of all your debts, showing: how much each debt […]

Are we just embarrassed to deal with our DEBT?

Are we just embarrassed to deal with our DEBT?

In the current climate, with jobs being reduced and the unemployment rate around 10%. Are we just to proud to admit that we have a debt issue? The following was an article provided by savings.com.au The bank conducted two surveys of more than 1,070 Australians aged 18+, and found these debt-laden Aussies have racked up […]

Unemployment Rate – 7.4% Have you been affected?

Unemployment Rate – 7.4% Have you been affected?

Australia’s unemployment rate rose to 7.4 per cent in June, despite the addition of more than 210,000 jobs. The number of unemployed people rose by 69,300 to 992,300 in June, according to the Australian Bureau of Statistics. It means the country’s unemployment rate has risen from 7.1 per cent in May to 7.4 per cent […]

Debts – what can be done?

Debts – what can be done?

This week has brought lots of discussion in our team about the position of lending and plausible exit strategies when it comes to dealing with debt. The discussion has brought lots of different scenarios, circumstances and situations. The team thought it was great to share with everyone on what was discussed around debts. The first […]