"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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- What is your Money Confession? (Your biggest money win or stuff up)
- When my son died in a car accident in 2002, I was 54 and renting but I received enough money to buy an old house. I was so gutted and in such a state of depression, with no-one to advise me and I sold the house a year later, went to Western Australia (which was where my son had died)and lived in Broome WA in a caravan for two years, flying back and forth to Melbourne to visit my grandkids. Guilt finally brought me back home where I had purchased a 'mobile' home ..a 35 year old 'cabin' which had a front room extension and decking built all around, a very established garden and had normal plumbing...(it wasn't mobile in any sense of the word) for $22,000, 'SIGHT UNSEEN' out of the Trading Post !. A year after I returned I wanted to sell the 'cabin' in the tourist park, but was told I would have to have it removed, as they were getting rid of the old sites and upgrading (this had not been mentioned at the point of sale). I advertised but couldn't sell it because it required being dismantled, a low loader truck and a crane, for which I was quoted $6,500. End of the story is I sold it for $2,000...lost $20,000 which was all I had left. I now live in a tiny, one bedrm Ministry of Housing flat on a pension and I'm miserable.
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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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What is that gets you going? And what prevents you from being happy? You need to start with the small things on the path back from the abyss. It's possible to climb out, and we can all help you out here.
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