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Found 5 results

  1. I would like to find out about any experiences with claiming back funds on a credit card due to company insolvency. I recently booked a trip to Lady Elliott Island for myself, my wife and my German relatives that were due to visit in May. Before COVID-19 had a chance to bite, we found out (almost by accident) that the tour company I had booked with had gone into insolvency. We have lodged a claim as creditors but are not hopeful that we will receive anything (probably a few months down the line ion any case). When we moved to Aus 12 months ago, we had decided not to get a credit card (still have one in the UK) and booked the tour on our bank debit card. We do have travel insurance but it specifically excludes insolvency. We have been told that if we had used a credit card we would have been able to lodge a dispute, but reading the small print I can find on various credit cards, it looks like this would not be covered in any case. If you have any experience of this or similar I would like to hear from you. Stephen
  2. Looking for some non-judgemental advice from you clever folks... Myself and my wife bought a flat in London in November 2007 on virtually a 100% mortgage (I know, I know.. insane, but back then everyone was at it, and it took us two years alone to save enough for the stamp duty and fees!). After the market went pop, within 6 months, it was worth about 60K GPB less than we paid for it. Coupled with being unlucky (or stupid) enough to buy at the peak, we bought terribly, an old flat in a questionable area that needed a lot more work than we could have imagined. We have tried to sell twice, and not one offer, even below asking price. Since departing the UK, we are renting the property out behind the back of the mortgage company as they refused our request to let it out when my industry all but disappeared (construction) I had no choice but to up sticks and move abroad chasing work. We're making a fair go of it living here and getting to love the place and being back working in a busy industry, and have three kids now. The constant sending of cash we cannot afford back to subsidise repairs and mortgage payments is becoming a pressing issue to say the least - probably about 8 grand GBP this year alone... We are only paying interest on the repayments and barely afford this, thus haven't paid a penny off the mortgage yet, five years on... I have a small credit card debt in the UK, about 3K, from paying for a new boiler last month, but nothing else debt wise - just this bloody mortgage. We've just been told the entire property needs new windows and a new kitchen (!!), so another 20K debt is flashing before my eyes... SO - I have been looking at bankruptcy. I don't have residency yet here in Oz but will start process next Feb when I have been here two years and it should be quite straight forward as I have a good secure job earning a good wage. I don't foresee going back to London as it's such a mess there and things going well here, so looking long term to citizenship for myself and my happy brood. I'd love to hand back the keys and have spoken to a few insolvency agents who seem a bit too enthusiastic, and make it all sound too easy - if you l know what I mean! used car salesman springs to mind... I understand you need to pay a few grand to get the process managed for you but my main worry is being left with a 60-70K debt I have to pay off from the flats negative equity, which would pretty much ruin us financially for ever. Anyone been in the same situation and can offer advice, I'd be very grateful. Anything will help, we're getting a bit low here worrying about this. Thanks guys!
  3. 457 Visa Sponsorship on offer Great Culture Newcastle CBD Location A fantastic opportunity has become available for a senior accountant to join a growing and dedicated team of one of the largest regional specialty insolvency accounting practice in NSW. The role involves working on a range of business clients dealing with all aspects of insolvency accounting, business recovery and personal bankruptcy. The position reports to the manager/partner and has a high degree of autonomy, flexibility and responsibility. The successful applicant will have completed their Commerce Degree and either be CA qualified or be completing the CA program. Previous experience in Insolvency is preferred and salary will be commensurate with qualifications and experience. Applicants must be motivated, enthusiastic and have a willingness to accept challenges. You will enjoy working in this close knit team where ongoing training and support are offered. If you're looking for career advancement, lifestyle and a great remuneration package, and if you want to work for a firm that recognises the individual then please forward your resume by clicking on the apply button below. This is an extremely exciting opportunity to become part of an established Australian metallurgy company. The candidate needs to be based or can relocate to Sydney, Australia. The company is already an approved 457 Visa Sponsor, 457 Visa Sponsorship (Australian work visa) may be available for a super candidate. If 457 visa sponsorship is required you must meet the 457 visa eligibility. Please PM for info
  4. Guest

    UK Insolvency

    I so with so many people taking redundancy in the UK, many will be tempted to start up or buy into an existing buisiness, the risk must be imense http://www.guardian.co.uk/business/2011/jan/24/more-uk-firms-financial-trouble-begbies-traynor I imagine a lot will do it, and live to regret.
  5. Hi All We moved to Sydney from the UK 12 months ago. Exactly a year to the day since I started work my position has been terminated due to company insolvency. I got one days notice, I am owed a weeks wages and 3 weeks annual leave which I probably won't get back as there is so money left in the company and I can't claim from GEERS as I am not 'permanent resident'. I have applied for a new job and the sponsorship application/nomination is still being processed and has been for over 4 weeks now. To be honest we cannot afford for me to not be paid for any longer and the new company who are trying to sponsor me may not even be eligible as they may not meet the 'training requirements'. Me and hubby have been awake all night thinking of what we need to do if we have to go back to the UK, we will need to make a decision soon, if we keep paying rent, bills and living we will not have enough money to start again back in the UK. Can anyone give me any advice on the following: 1. If company is insolvent will I have to pay for own flights back? 2. Can I get the tax back from July to now? 3. Can I get the super back? 4. Has anyone been in a similar situation? Thanks for listening Hop