Author Archives: stevetownsend164

Where can I get bankruptcy information?

If you are seeking for bankruptcy information, it would probably mean that you understand the gravity of the issue. Being bankrupt is not a joke. Bankruptcy declarations should only be done under dire circumstances that are completely unavoidable.

Bankruptcy may be the option for you if you are suffering from a terrible debt or financial crunch. The idea is to try and prevent the need for bankruptcy to be declared.

bankruptcy australia

You can consult an expert in your area and he/she may be able to help you with numerous alternative options to bankruptcy in Australia. The professional understands the case, highlights where the debt is from and figures out a solution for it. There are 4 common alternatives to bankruptcy. These are;

  • Restructuring of finances. The first and most basic thing that should be done is to determine if the spending of finances is optimal. The incoming income should be streamlined towards critical immediate debts first and other issues later. The entire of the financial circuit should be maintained as such.
  • Consolidating high interest debts. Many debts have high interests and that makes the late payment very dangerous and a high attribute to bankruptcy. To handle this, a good alternative is to take a consolidated loan from the bank at a lower rate of interest. This money can be used to get the creditors of your back while u pay back the main loan in a more gradual, hassle free manner.
  • Individual Voluntary Agreements (IVA). These are agreements made between you and your creditor. These agreements are on a one to one basis where the debtor understands your situation and agrees for a time period extension or an E.M.I. system payment or even agrees to decrease the amount to be paid each time.
  • Debt management plans. These are plans used with facilitation of the helpline professionals. A single amount each month is set aside for all debts. The payment is then broken up amongst the creditors and paid in proportion to urgency.

There are many options available other than outright bankruptcy. What is important is to avail all these options, understand them carefully and apply whatever is applicable to your circumstances!


3 things to take care while taking Payday Loans

PayDay loans

Payday loans are designed in order to cater to short-term finance needs. Did you know this fact?  It is a way to come out of trouble but for a short-term. If you think it as a long-term option you are doomed. They are a quick option when faced with surmounting financial pressure, in order to buy time for making alternative arrangements. You can say they are stop-gap arrangements.

The interest rate of payday loans is not less. Only opt for payday loans when no other options are there. While taking the loan eventually you should be aware of their basics.

  • Loan Term Knowledge – Payday loans have very short-term. Only a few weeks at best a month credit will not pinch you. The advantage is that you will get instant cash credited to your checking account. However be careful of the high interest rate.
  • Interest rate – There is no point calculating the annual rate. If you calculate what you are paying monthly well it is 6 percent minimum. When calculated for a year it is at least 300%.
  • Delay in Payment can be deadly– Not paying for a long time will definitely cost you. You might have to pay 3 to 4 times the principal. So be aware of this fact

So if you are looking for short-term option payday loans can be great. But for long-term it is a big No!

Direct payday lenders

Payday Loans for emergency funds

Now you do not have to visit the office to get a payday loan. It is a loan service which is designed to help people who need instant cash. The payday loans are different from the normal short-term loans. You can get the money quickly without going through the long process of loan disbursal.Life is full of situations which cannot be predicted. These include medical emergency, accidents etc. You might sometimes not have enough money to pay during these unexpected emergencies. There are many service providers that help you overcome these emergency situations.

What is required by direct payday lenders?

The direct payday lenders have some minimum requirements for you to get this facility. They are:

  1. Age 18 Years – You are eligible for the loan only when you are 18 years old. This is done so that the loans are provided to mature people who will not default.
  2. Source of income – The payday lenders provide loan to people having a steady income. The source of income and the amount on your paycheck decides the amount of disbursal.
  3. Citizenship – The lending company will disburse only to citizens of the country where they are operating. This is to protect against default as the loan has no security against it.
  4. Bank Account – Always the loan is linked to the bank account provided by the borrower. This will help to protect the lender against default and also keep the borrower identified.

Instant Approval

In the technological age you can get the money in your account in a matter of hours. Always choose the direct payday lenders and do not get involved with the brokers. The direct payday lenders are governed by legislation which will protect against the heckling by brokers. Also getting loans directly you will get more money in your hand as you skip the broker fees. The direct lenders will review you eligibility and then contact you with their terms and conditions. Read the terms and conditions carefully before signing up. It is the matter of your money. Always be prudent while going through the interest payment part of agreement and try to get a loan with minimum cost.

Be a responsible Borrower

The loan is a debt and should be treated accordingly. Be reasonable and take only as much you can pay easily without much strain. The short-term loan comes with some terms and you should abide by these to stay away from credit troubles. If you are planning to take some long-term loans make it sure that you pay these short-term loans on time. This will affect your eligibility for the long-term loans.

Government and Markets

Economy Surrounded

The unemployment shark is back attacking the economy.It is hurting the very essence of the Australian system. Australian economy has been robust and riding the success wave. But the latest quarter has thrown up new challenges.Inflation is increasing due to destruction of food crops due to global climate changes.

New budgets and economic packages can have a significant effect on the behavior and outcome of markets. Not only in response to government packages, but also reacting in real time as analysts try to predict how certain events will affect the outlook of their organisations. This is where the economic machine fits alongside geo-political influences as the relationship between nations, in whatever sense, is crucial to the performance of individual markets. And this is where an equilibrium must be found between politics and economics, so the markets can behave in ways conducive to business. Perhaps this is why when a situation such as Ukraine’s happens, nations are slow to respond so they don’t upset power balances too much. The mixture of a new budget for us, the crisis in eastern Europe and unstable financial systems in Asia, mean equilibrium must be found. However, power balances are all too hard to control. Whilst economies, with their shares and stocks fluctuating, governments want the best for their countries which often undermines the interests of big corporations.

The power balance is shifting and the need of the hour is policy revision. New policies will act as the Noah for the Australian economy. It will drive it forward to success. Asia is also picking up the pace after an year of slack. So, the things look bright but edgy,

Rise of the Australian Dollar

The Australian dollar has seen remarkable recovery since the 30% decrease. It is almost square with the US dollar. This has happened for the first time since 1982. This shows the strength of the Australian economy in the current scenario.

Australian Dollar Rising

Australian Dollar Rising


What are the reasons for this strength? There are many:

  • The Asian Connect – Australia is benefiting from the Asian economy. Asia is one of the fastest growing region of the world, and strong ties at the right time has helped Australia to grow as well. The demand for Australian goods in Asia is pushing the AUD to become stronger.
  • Volatile US and EU – The volatility of the markets in US and the EU crisis has made Australia a place for safe investment. The stability of the Australian economy has helped in rise of the Australian Dollar.
  • Healthy Economy – The healthy state of the economy in Australia is the main reason for the strong currency. When the whole world was reeling from the slowdown, Australia was the least affected. The reason being strong policy measures.
  • Demand of mining products – The Asian countries are towards commodity intensive stage of growth. Hence the demand for mining products is more. This has led to mining activities increasing in Australia. Strong demands from China is driving the mining industry. This helps the rise of the currency as well.
  • Reserve Bank holding off – The Reserve bank has desisted from cutting interest rates. This has shown positive results with the Australian Dollar reaching parity with the US dollar.


Australian Economy in Upswing

Rapid population growth, foreign investments are the factors pushing the Australian economy ahead. With increase in trading partners the Economy looks to be speeding ahead. This is the era for growth for Australia.

The investors are the driving force behind the rosy scene. They seem confident and willing to invest more resulting in around 4 percent growth. The major trading partner countries are recovering at a normal pace now. The economy is picking up in Asia, and Asia is one of the major export markets for Australia. Australia is one of the hot destinations for immigrants, which adds to the skill level of the workforce. Lesser exports to China have been offset by increasing demands in East Asia.

Housing prices on a upswing

The increasing House prices in Australia

Household incomes are rising and will support the growing needs for housing. The construction industry is likely to have more appreciated growth. In spite of high rates for property, there is no case for alarms. The debt payment is having very healthy trend. Mortgage credit which has put down major economies is hardly a factor in Australia.

Jobs available to skilled class has shown a growth of 2.7 percent indicating the growth in the economy. The unemployment rate is one of the lowest in the last decade at 4 percent.

It is one of the few economies across the globe where lending cost has gone up. The hope is that the upswing will continue further adding to wealth of the common Australians.

Tourism is also supporting the economy well. With major tournaments like Australian Open Tennis and the World Cup in early 2015 will add to the economy. The early legislations protecting the environment are bearing fruit. People from all over the world are coming over to experience the unique wild life and the scenery.

Australian economy is rocking at the moment!!!!!!!

Australia’s current account deficit narrows

Australia is no stranger to current account deficit- it has been a constant companion for more than a century, at least. However, the September quarter has seen a 10% reduction in current account deficits. The Australian Bureau of Statistics was expecting a slight reduction in the deficit- but not to the tune of 10%. This is just a sweet surprise, in a way.

Current account deficit falls

Current account is the account that measures the international flow of income. The current account measures transfer of dividends, aid, interest payments, etc. between Australia and other countries. The second quarter of this year saw a doubling of deficit, thanks to decreasing exports and a perceivable drop in commodity prices. However, exports have picked up again and this surplus supply has caused the deficit to slim from $13.9 billion to $12.5 billion.

This has been a fairly good year for the Australian economy, at least as far as current account deficits are concerned, since it hit a three decade low! The Australian economy has seen a surplus supply thanks to increasing exports. Australia’s trade agreements with China and Japan and other countries might have something to do with this. It might certainly help the country’s economy to promote trade agreements with other countries.