19 November 2019
Excellent news today – the government has announced a review of the forced bankruptcy threshold.
Excellent news today – the government announced a review of the forced bankruptcy threshold. The media links are below (ABC online and News Breakfast, SMH online)
The announcement was in response to a letter (and lobbying) from the ABA, FCA, Consumer Action and Financial Rights after the release of Who is Making Australians Bankrupt.
The threshold is currently $5K. In Who is Making Australians Bankrupt, we say it should be $50K. Industry seems to have already moved to $20K, so we will end up with an improvement.
Further can be accessed from the News Links below: