Losing your house: Just how much do you understand about Bankruptcy in Canberra?
The greatest question people have when they come to our team regarding Bankruptcy is literally 'Can I manage to keep my house?' and in many cases the truth is yes, you can manage to keep your house. The only reason you will be obliged to sell your family home if you file for bankruptcy is actually due to the fact that you have a lot of equity in the house that it is deemed an asset. Please check out these straightforward hypothetical case studies below to get your head around Bankruptcy and how it impacts houses in Australia. Remember If you need to know more regarding Bankruptcy and houses feel free to call us here at Fresh Start Solutions Canberra on 1300 818 575, or visit our website: www.freshstartsolutions.com.au/bankruptcy-Canberra.com.au Case Study 1. (Mike & Sue Smith) 5 years ago Mike and Sue bought a house in a mining town for $450,000. At this time the mining boom was helping keep all the property prices nice and high. Now they are needing to loo...
