You might hear people use the terms 'insolvency' and 'bankruptcy' as though they're interchangeable—but there is, in fact, a clear distinction. Insolvency Insolvency is a legal term, and can be applied to either businesses or individuals. There are two technical definitions of insolvency: When your or your businesses assets—the saleable things that you own—are worth less than your debts and other liabilities, and When you have or your business has become incapable of meeting debt repayments and other bills when they're due.
27 October 2016
You may be going through the unfortunate circumstances associated with separation. You may understand that your marriage has broken down and consider this to be irretrievable. You may be starting to think of formalising the end of your marriage, but what do you need to prove in order to proceed with this and will all of your private details be made public? How Divorce Once Was At one time one of the parties applying for a divorce had to prove that the other party was at fault in some way in order for the courts to make a judgement.
25 October 2016
According to the ABS, the divorce numbers in Australia decreased in 2014 by 1,140, while the median duration between marriage and divorce in 2014 was 12 years. While the decrease is promising, divorce is still a reality that many Australians have to go through. If you're planning to file for divorce, it pays to discuss the issue with your family lawyer. Prepare well with these actions before your divorce meeting.
23 September 2016
