A debt with no collateral secured against it. In the event that the debtor defaults on the loan, there is no collateral to foreclose on.
Unsecured loans we can help with:
Bank account overdrafts
Some debt consolidation loans
Money borrowed from friends or family (if electronic transfer/records kept)
Disconnected services such as:Phone contracts, electricity and gas bills, internet, Foxtel etc.;Rent / Mortgage:Rental arrears/debt for previous property
Mortgage or car loan shortfalls (where the asset is sold for a loss)Invoices or fees relating to:Medical, Vets, Mechanics, Car accident debts, School fees, Solicitor, Lawyers, Business suppliers etc.(so long as services are completed and no longer need to use that provider again)Government:Tax bills, Centrelink Overpayments
Debts that are not able to be included:
Child Support arrears
Speeding fines, infringements, penalty notices, parking fines, toll charges, etc.
Sorry about the long time in between posts. I’ve had debt CRISES, that’s right that’s the plural of crisis! Things are kind of bedded down now; I can work on getting expenses down and my finance’s sorted.
What happened? My bank (which shall remain unnamed), decided to reduce my credit by $57,000 the day before a settlement. I know, awesome, right? Well after renegotiating and selling everything that wasn’t nailed down, I managed to settle and avoid a costly contractual breach.
I now am completely skint AND have only $7 per week between me and catastrophic failure! Wooo!
I have, however, invested in Quicken, and I am going to get on top of this sh%&! And (drum roll), everything is now on board in the budget.
Anyone got some advice for how to set up an offset account and transactional facilities?
I am about to work through it, and I don’t want to reinvent the wheel.
PS: Glad to be back 🙂
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