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How will your life work once you  become bankrupt?

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Going bankrupt is an effective way to become debt free & start a new life. We give advice in filling bankruptcy in Australia and help you remove your financial pressure. For more information, please visit – PowerPoint PPT presentation

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Title: How will your life work once you  become bankrupt?


1
How will your life work once you become bankrupt?
2
  • You may be surprised to learn that once you have
    the protection of bankruptcy, life simply goes on
    as it always has.
  • Within a few weeks the phone calls will stop. You
    will have peace of mind, knowing creditors can no
    longer chase you. Your wages will be for your
    needs.

3
  • Your stress levels will start to drop as the
    money worries ease. It can take about three
    months to return to normal, but everyone is
    different.
  • However, it is important for you to make sure the
    benefit of bankruptcy is not just limited to
    removing the debts you cannot pay. This process
    can improve your quality of life. Not convinced?
    Give the following suggestions some thought

4
  • Call time
  • The dynamics of your life are likely to have
    changed because of the financial pressure you
    have been under. Take a step back, assess how
    your life is working and whether you want it to
    change. What are your priorities? What do you
    WANT to do?

5
  • spend more time with your spouse or your
    children?
  • pursue a hobby or some study?
  • change jobs, or try a new career?
  • get fit, play more sport or simply take time to
    smell the roses?

6
  • Identify what caused your problem and learn from
    your experience
  • There is nothing wrong with making mistakes but
    it is wrong to not learn from them.

7
  • Here is a short list of some of the problems our
    clients have had and what they decided to do to
    prevent it happening again
  • Excessive use of credit cards use a debit card
    to avoid the temptation to spend thoughtlessly.
  • Inability to manage money asked friends who
    could budget properly to teach them how to do it,
    and provide coaching support.

8
  • Gambling sought appropriate counselling and
    joined a group for people also trying to beat the
    habit.
  • Debts from failed business sought a full-time
    job because his skills and knowledge were not
    being optimised, due to the pressure of trying to
    run a business he had not been properly trained
    for.

9
  • Where do you want to be in three years? In 10
    years?
  • Having debts you cant pay puts huge pressure on
    you and your family. Going Bankrupt is a circuit
    breaker and offers a great chance to reassess
    what you are doing and where you are going.

10
  • What would be your plan?
  • If you are considering bankruptcy, we recommend
    thinking about where you will be in 10 years, and
    how you will get there. These are some of the
    answers our clients have given us
  • Living stress-free and enjoying life.
  • To have the kids educated and to be starting to
    think about retirement.
  • To have saved for retirement.
  • To own a home and be making significant inroads
    into the mortgage.

11
Bankruptcy sorts out unmanageable debt and
creates opportunity. What that opportunity is
well, thats up to you! Going bankrupt is an
effective way to become debt free start a new
life. We give advice in filling bankruptcy in
Australia and help you remove your financial
pressure. For more information, please visit
http//nichollsco.com.au
12
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