"Hi I work for a Debt Agreement administrator. There are 3 ways to end a debt agreement, you pay it out in full, you can apply to have the agreement terminated (however interest backdates from the start of your agreement), or you can offer to make a…"
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Addressing the shortage of residential property
The Shire of Litchfield had a problem collecting about $250,000 from unimproved land holdings which were unmaintained and basically had no active ownership. This properties known as "dead man" leases were owned by estates that acquired them in the 1800's from mainly English owners.
Under a change of law, they were able to auction these off, raised 3.5 million (which easily addressed the rates plus interest shortfall) and released 11 rural acreage properties to a market starved of stock.
I wonder if this could be an option for other vacant blocks around Australia? Comments welcome
Under a change of law, they were able to auction these off, raised 3.5 million (which easily addressed the rates plus interest shortfall) and released 11 rural acreage properties to a market starved of stock.
I wonder if this could be an option for other vacant blocks around Australia? Comments welcome
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Cliff Mearns replied to Cliff Mearns's discussion Bankruptcy -v Debt Agreement"Ben, let's not lose the loop. How financiers view bankruptcy is not relevant to the discussion of an individual's capacity to pay something. Bankruptcy is being utilised as a means of evading debt obligations. "
Bankruptcy ben replied to Cliff Mearns's discussion Bankruptcy -v Debt Agreement"I agree with the setiment however in reality there's nothing to encourage an individual to make a payment with a Debt Agreement! While technically it's different most financial companies regard it as the same as bankruptcy."
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