Has anyone had a part 9 debt agreement or bankruptcy and then once finished been able to go on and buy a house etc?
How many years will I be affected for?
I left an abusive marriage and have quite alot of debt that I just can't keep on top of and am thinking one of these options are probably necessary but am obviously hesitant.
3 Replies
Before you do ANYTHING plz plz plz look for help thru some of the community services available in your area! Contact the council, local salvos, library etc because they'll point you in the right direction.
People think that Part 9 is easy. It's not. Please look at some of the not for profit, community organisations that will provide you with advice and assistance.
Better off just going bankrupt and starting from scratch, it’s the same repercussions as part 9 just you don’t have to pay the debt
That’s incorrect the bankruptcy stays on the insolvency file forever part 9 does not
I finished a part9 and the day after this was completed my credit score returned to high it takes 5 years with a part 9 you are still able to apply for credit and phones etc leave the country etc and as soon as the amount is paid and 5 years are up this is wiped
This holds better with credit providers in the future as you have repaid the debt and not just wiped it
Bankruptcy is completely done in 3 years and you will lose assets to repay the debt if deemed suitable you will on the insolvency record permanently and can effect some career paths
Please speak with a financial councillors for advice