All of this negative publicity about bankruptcy and mortgages, and you’re probably thinking to yourself, “There’s no way I’m ever going to declare bankruptcy!”
All of this negative publicity about bankruptcy and mortgages, and you’re probably thinking to yourself, “There’s no way I’m ever going to declare bankruptcy!” Whilst this is a great attitude to have, it is important to know that much of what you know about bankruptcy and mortgages is wrong. This comes as great news to those of you who have or currently are bankrupt, so spend some time checking out what bankruptcy really means for your financial future.
The Myths
Before taking a look at the reality of bankruptcy with relation to your financial future, it’s good to check out the myths that have been circulating for many years, compliments of mainstream lenders, most mortgage brokers and the media. Here’s just a few of the myths:
Sure, bankruptcy isn’t a great thing to have to experience. After all, a bankruptcy will always be on your credit file, so it can be a painful reminder of a very difficult time in your life. This said however, each of the four points listed above are myths. Here’s why:
Bankruptcy isn’t the End!
If you are or have been bankrupt, it isn’t the end! In fact, far from it! Even a traumatic event like bankruptcy can be seen as an opportunity. This is how it should always be viewed. It is an opportunity to work with a financial expert who can provide you with the guidance you need to enjoy a financially independent future. To get back on the path to a good financial standing, seek out a reputable specialist today!
Australians’ Personal Money Management in a Shambles
Australians approach budgeting in the same way as we do dieting. Like bad credit, obesity is on the rise in Australia too, yet when it comes to the obesity cure and prevention (dieting and exercise), we simply procrastinate, lose motivation and give up!Bad Credit and Bankruptcy? No Worries!
There is definitely hope for people living with bad credit and bankruptcy if they are seeking to own their own home.Personal Debt Reality for Australians
Quite clearly personal money management is an area Australians don’t excel at, and unfortunately a lack of skill in this area has dire consequences.