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About Me

Graham Doessel - CEO - MyCRA (Specialist Credit Repair) Lawyers (LPH)

Current Rating: 4.65 / 5
Business Advisor
Legal Practice Holdings
Brisbane, Queensland
1300 667 218
My focus is on helping get Good People out of Bad Situations, and this has been my passion since 1997 (full time since 2003).

Since 2009 my team and I have been focused on helping Brokers and their clients remove Defaults and Judgments so their client get's their loan, and the Broker gets adds another happy client to their repeat business client list!

Yes, I've been called a 'Champion For The Consumer' and I guess that's pretty much it. I go to bat to help the consumer by lifting the burden of Bad Credit, lift the weight of the world from their shoulders, and help them take the next step towards their desired outcome.

My Activity

Q: I've recently applied for a personal loan with a lender and was approved, however I haven't signed and accepted the loan yet. Whilst it was being approved however i've found another lender which looks like they will be reasonably cheaper.

My question is if it's OK to instead apply through the second lender even though I was approved with the first? I was reading this article: https://creditmadesimple.com.au/does-taking-a-personal-loan-affect-your-credit-score/ which says that applying for personal loans can impact your credit score, so im concerned if I apply for the second loan I might be denied and then not be able to use the first lenders offer anymore.

Appreciate any advice!
A: Hi Mark,
sorry for the delay over Christmas.
You are right to be worried as YES, every time you apply for credit, it lowers your credit score.

Feel free to call me and I can step you through getting your credit file (if you haven't moved on yet), or just pop over to www.FreeCreditRating.com.au for all of the instructions etc.

Have a great day Mark!!! :-)

Q: I am contractor on $40 an hour. I work 28 hours a week. How do I calculate how much this would be in terms of a casual worker? taking into account casual loading, super, and tax?
Is there anything else I am not considering as well?
A: Hi Tayla,
It may depend on the industry you are in, the time of day you work, your age, and a number of other factors.
One way to be sure would be to call Fair Work and they could probably give you specific guidance.

Sorry I couldn't be more specific

MyCRA Specialist Credit Repair Lawyers Review & Testimonial By David K

Q: Hypothetically if our commercial tenant wanted something that had a contract clause that it would be pending approval with body corporate. But then went and deducted rent per week to compensate for not getting it, without approval of this, is this legal?
A: in my opinion, if the contract was signed 'pending' approval, and there is no approval, then there is no contract.
see a lawyer...
@Patrick Earl is my commercial litigation Lawyer, and you can call him on 07 3088 3777... might be worth investing a few dollars and a few minutes to get your position established.
Q: I have had the same accountant for years. They do my return and I'm sure it's done properly.

However, when I did my last return I asked my accountant a question ...

What could I / should I be doing to minimize the tax I pay?

Am I paying too much tax with my shares?

I claim as much as I can when I do my BAS & Tax Return, but is there a better way?

Any other strategies?

My accountant said they assess my return based on the information provided and they do not provide advice.


wondering what your thoughts are? Also, I saw this website

https://taxfitness.com.au/ but it seems to be targeted towards accountants, is there something similar for individuals?
A: get a new accountant
if you were going to a 'tax agent' then that answer may be okay(ish) but I believe a good accountant is essential.

Just my thoughts
Q: Hello, I want to create an online platform to help people experiencing anxiety and stress related issues. I have the professional qualifications and over time would invite other professionals to form part of the community. The question I have, is what do I need or should have to protect myself, other professional and the platform, what could we be liable for?
A: Hi Peta,
In short,

1. protect yourself/business with PI insurance
2. make sure you have the correct structures in place for asset protection
3. get good accounting and tax advice
4. get legal advice to make sure what you're proposing is covered

1. depends on what you want to achieve
a. look at wordpress - I use it and it works well
2. If you're going to invite other professionals, think about:
a. how can they add value to your audience
b. what's in it for you and for them

1. seek legal advice as you'll need to explain what you want to do before the liability question can be addressed.

Sorry I couldn't be any more help - at this stage, there are a lot of unanswered questions that would need to be discussed to point you in a clearer direction..

Good luck, and let me know if I can answer any more specific questions or chase up my Senior Partner, Mr Patrick Earl
- here is his SimplyAskIt profile - https://www.simplyaskit.com.au/profile/1519/patrick-earl-armstrong-doessel-stevenson-lawyers-lph
or call him on 1300 ADS LAW (07 3088 3777)

Warm regards

Graham Doessel
Q: Hi, finally I am taking the plunge and will launch my own business from July this year. My question is if I incur expenses in setting up the business like website, marketing material before July will I be able to claim the expenses in this financial year?

Thank you
A: Hi Penny,
I agree with everything Brendan said, and also make sure you have specific commercial legal advice.
Also ask your 'bean counter' for tax planning advice - work out what you're going to do in advance so you're prepared.

Good luck Penny, and Welcome to the challenging and very rewarding world of small business :-)

Q: Hi, I’m looking at buying a restaurant and have looked at a couple within reasonable proximity to home. I’m a qualified chef but having a difficult time trusting the financial and information the business brokers are providing. Is there a proven strategy on how I may be able to get the true picture on how the business is performing, thank you
A: Hi Michael,
Go to the restaurant (several times), sit down, order a meal, check the service, the menu structure, the prices, how the other diners are treated, look at the responsiveness of the table staff, look at the cleanliness of the cutlery, the table cloths, the floors etc... how good is the food?

As you know, every place is different and if all of those things are great, there is a good chance that the people running the show take pride in their restaurant, and there is a stronger chance that they'll take pride in their books etc too.

Ask questions of the staff (in casual conversation), do you like it here?, how long have you worked here? why'd you decide to work here?

Basically, get a feel for the place. And you're a Chef, you know that your 'gut feel' is one of the most important indicators you have - Trust it... If your gut feel is bad, walk away, but if it's good, then start doing the checks and balances recommended above.

I hope that helps mate and Good Luck :-)

Q: Hello,

About to start a business with 2 other business partners and we’ve been to see an accountant to make sure the structure is correct. We have each had a discussion separately and I would like to ask other people if they think it is wise for us to share the same accountant for our personal stuff?
A: Good morning Carmel,
So in answering your initial question, YES it's probably a VERY good idea to each get independent financial AND Legal advice (from separate professionals) before undertaking any major life-changing decision or venture.

You've made a great start with checking out the structure from a financial point-of-view, now take a few minutes to get some commercial legal advice, separate to your business partners.

Just a few things you might like to think about (but definitely NOT limited to) include:
1. Shareholders/partnership Agreements (This was explained to me many years ago as "working out the divorce BEFORE you get married" - another way to look at it is simply putting on paper (correctly) who owns, does, doesn't do, is responsible for, etc, everything...
2. Asset protection
3. Your personal liability
4. Reporting (internal to and for each other, and external to ATO, regulators, stakeholders etc)

If we knew the business you were going into, perhaps we could be more specific.

I hope that helps you a little :-)

Q: I have received a fine for not cutting the grass on my vacant block of land which I paid. My question is: with the money that I paid the fine, can I claim it back in tax because we use that block of land as an investment.
A: Hi AnneMarie,
I might be wrong but I don't believe any fine is tax deductible. Check with an accountant.

Sorry :-(

Q: Fun Friday

What quote resonates with you, inspiring you to move forward?
A: Quality - Price - Speed
Pick Any Two!
Q: Fun Friday

What quote resonates with you, inspiring you to move forward?
A: It's not what happens to us but how we respond that makes all the difference
Q: In light of the Banking Royal Commissions recommendation to have the upfront commissions currently paid to mortgage brokers by lenders changed to a fee for service model over the next couple of years, can we ask:

Do people believe consumer’s would be prepared to pay an upfront free to a mortgage broker to help them obtain a suitable home loan?

What impact would such a change have on consumers?

What impact would such a change have on the home loan industry?
A: I believe it depends on the service being offered.
I charged a brokerage (over $5,000) on formal approval from 2005 to 2009
I have clients chasing me as I am technically a broker (but I don't have time to write loans) that are willing to pay the fee for the service I provided in the past.

What will you do differently that makes the fee charged insignificant to the value offered for that fee? That's the question.
Q: A family member is a qualified chef and has moved to Australia from France and wants to start a restaurant. He has a working visa but is there any legal issues from starting his own business. Could he borrow money?
A: Hi Phillip,
Because I'm personally not a registered MARA immigration agent or Lawyer, I can't give you advice about your/cousin's specific rights or responsibilities in relation to Visa conditions.
One of my Lawyers suggested [strongly] that you find a local immigration Lawyer that your cousin can speak to about the specifics of his Visa, the specific conditions (if any) attached to that Visa and the options to change the visa that may be open to him.

I'm sorry I can't be more specific but you probably already know that making a mistake with a Visa is a sure way to get kicked out of the country, and no one want's that to happen.

Q: A family member is a qualified chef and has moved to Australia from France and wants to start a restaurant. He has a working visa but is there any legal issues from starting his own business. Could he borrow money?
A: Hi Phillip,
I will ask my Immigration Lawyer when he gets in this morning.
I'll post more info later today.

Q: I been contracting for the past 10 years and have 3 and at times 4 regular clients. I never had income protection insurance but recently was started developing anxiety issues and currently on prescribed medication.

A few friends have suggested I should look into income protection. As I’m on medication do you think there would be an issue, thanks?
A: Hi Ben,
I don't have a clear answer but I imagine reading your policy documents, or giving the insurance company a call may give you the answers you are looking for...

Sorry I couldn't be more help

blog post
How To Know If Your Bad Credit Can Be Removed [by Specialist Credit Repair Lawyers]
This Credit Repair “Chances Of Bad Credit Removal Matrix” is a point-in-time snapshot and will be updated from time to time.
Please click HERE to view the matrix on MyCRA lawyers ...
Q: Hi, we need some advice.

One of our staff is never happy and continuously brings down the mood within the business and with a small team of 10, it’s very frustrating. The business is going well but it could be so much better and we are really worried about losing other staff because of the negativity. What is our best course of action, we don’t want to wait until it is too late?
A: Hi Christine,
Good luck and reach out if you can't find the HR specialist you need. My firms do have a HR expert :-)
Q: Hi, we need some advice.

One of our staff is never happy and continuously brings down the mood within the business and with a small team of 10, it’s very frustrating. The business is going well but it could be so much better and we are really worried about losing other staff because of the negativity. What is our best course of action, we don’t want to wait until it is too late?
A: Hi Christine,
Managing personalities in the workplace can be confronting, confusing and complex.

I do like Scott's suggestion to get a HR specialist to help, but that may not do what you need if the staff member's actions are not a breach.

Some people simply have a different outlook on life.
Two people can see exactly the same thing happen and one will be positive about it, and the other will see it as a negative.

There could be all sorts of 'stuff' going on in your employee's life and (if you haven't already tried it) you might find some success by getting to know the person a little better and 'notice' the things that are important to them.
Now, don't get me wrong, this can sometimes be easier said than done. I know from personal experience... But what I have found is when you do reach out, if the connection is made, it can add a strength to the relationship that would otherwise not be there.

I hope that helps a little :-)
blog post
Credit Repair Hints and Tips – remove unpaid defaults
Q.   Can my unpaid default be removed from my credit file?
A.   Simple answer - YES!
1. Because we are a (the only) Specialist Credit Repair Law Firm, it is the d ...
Q: Hi
I work full time as digital marketer and do some freelance work after hours. My work salary is $78,000 so do I need an ABN and register for GST for my own work?
A: Hi Jamie,
Great Question...

Firstly, I have an opinion and I would suggest you get separate accounting advice.

Okay, I believe you'll need to get an ABN for any business activity unless it is deemed a hobby (if that allowance still exists), however, if you were asking because your salary is already over the $75k GST, I would suggest your salary would have nothing to do with the additional work you are going to be doing (for ABN and GST purposes) as the tax (on your salary) should have already been taken care of by your employer.

The income you earn from your freelancing will need to be declared, GST paid if you register for GST (needs to be done if you generate $75,000 or greater)

Hope that helps, but please DO get accounting advice too.

Good luck with the freelancing!

blog post
Credit repair hints and tips - judgements
Q.   How do I remove a Judgment today?
A.   There are a number of steps, so let's take a look at them...
1. Negotiate to get agreement with the Plaintiff to remov ...
blog post
Credit repair hints and tips
Q.   How many credit enquiries can I have on my credit file today before it starts to negatively affect me?
A.   As little as four credit enquiries in the last six ...
Q: Hello, on a commercial property loan of $330k from a tier 1 lender we are borrowing about $120,000 through our SMSF. Are such fees usually requested by the broker, the broker wants to charge $1,000 upfront? ? Is this standard industry practice for non resi loans or a matter of which broker can get away with these fees from the borrower?
A: Hi Fiona,
As long as you are happy with paying the fee, and the fee was disclosed to you in a reasonable way at the right time (like up front verbally, and in the documentation), then you make the call to see if you see value in the transaction.

I personally have no problem with brokers charging a fee, normally due at formal approval and often payable at settlement, but I don't see it very often in the 'regular Mum n Dad market', more in the commercial, Specialist, or non-conforming markets where there (sometimes) more work, more risk and even sometimes, no commission payable by the lender.

To me, it is a fee for service relationship. If you are happy to pay the fee for the service given, then cool. If not, find another supplier of the service.

Good luck, I hope you get what you're looking for :-)
Q: Looking for a secured no doc loan with property as collateral. Capple1@live.com.au
A: Hi Cameron,
As Allan and Craig have alluded to, a 'no doc' mortgage is not something you'll see much of these days, though there may be an exception.

As previously stated, since the GFC and the later introduction of the NCCP, not to mention the ongoing additions of red tape, the only chances you'll have for a 'no doc' loan would be in an unregulated environment.

So, if the 'property' is one that is deemed to be residential or a residential investment property, you'll have to speak to a knowledgeable Mortgage Broker that works in the private funding for commercial properties area.
Be bloody careful!
Just because it 'can' be done, does not always mean it should be done.
Have a think about WHY you want/need a 'no doc' loan.
If it is a move to 'save' something, think long and hard as while I like a low doc and no doc loan scenario, too many people got into them for the wrong reasons, with the right intentions. This can make a bad situation worse.

Do some research, talk to the right people, take a hard look at why, then make an educated decision based on real data and logic.

Good luck :-)
Q: Hi,
I have just moved from being an employee to a contractor – same role with greater flexibility. My question is what percentage of my income should I put aside for tax and is there anything else I need to consider, thanks?
A: Hi Megan,
There's a whole heap of red flags that come up here for you and for your employer.

If you are doing the same job now on a contract that you were doing as an employee, you might need to look at the rules around personal services.
There is a risk that you might still be deemed an employee.
Worth taking the time to look it up and check it out.
Q: I was just reading an article from a broker about rates dropping and thought:
What's the lowest Low Doc rate these days?
Q: I have always thought I was good at budgeting - turns out I might not be!! I need help with free financial counseling, someone looking at our budget, finding ways to save, pay the debt off faster or possibly Debt Consolidation? I don't think the latter would be an option though...and I just don't know how to tweak it anymore... I have attempted to contact a free Financial counseling service in WA with no luck yet...Any suggestions?
A: Hi Stef,
Firstly, it's great to see you've identified you need a hand. That's the first step to getting things sorted. Well Done!

Be Careful!
There are So Many companies out there that'll tell you they can do a "Debt Consolidation", but in reality, they'd be putting you into a Part IX (9) Debt Agreement, which is an act of Bankruptcy. This Part IX will DESTROY your credit rating for 5 to 7 years.
Now, PartIX's are good for some people, but Most People that enter into a Part IX Debt Agreement do it without knowing that they'll have to pay off a large portion of their debt, and still end up with a rubish credit rating.
Many people would have possibly been better off going Bankrupt then to enter into a Part IX.

There are limited benefits of a Part IX over a full Bankruptcy, but you have to weigh up the cost versus those benefits.
If you need more information, I am happy to let you know as much as I know. We get so many people coming to us asking for help fixing their credit files after they were told by a Part IX company that the 'consolidation' would "help" their credit score, and exactly the opposite is true. A Part IX is almost impossible to remove from a credit file and will be on there for a minimum of 5 years, or a maximum of 2 years after the Debt Agreement is finalised (if greater than 5 years). Defaults, Judgments, Enquiries are easy, but not Part IX Debt Agreements...

If you need some financial counselling and armed with the knowledge above, you can try LifeLine. They are free and may be able to assist.

Also, there's a number of free resources available on ASIC's "Money Smart" website.



I hope this helps a little, and if you need more help, please ask me and I'll do what I can :-)

Good Luck and stay safe!

Q: Hello there!

I am 19 years old and looking to buy 2x 40 ft shipping containers and converting them into a home nicely set up, I've done the research and the profit can be there with the right planning and budget, but I am currently not earning enough to save $20,000 in the next year due to rent and other day to day expenses also I cant get a loan with any banks as a parking ticket was being sent to the wrong adress and I didn't know about it for over a month! Which affected my credit score quite badly. So my question is does anyone know where I can find private investors or something along that line to help with the costs of my project I have seen a financial advisor and have professionally drawn up plans that suggest a $25,000 profit in 2 months work! Thankyou really need advice.
A: Hi Jackson,
just a quick question.
You said a parking ticket has affected your credit score. Have you checked your credit score recently to confirm that?
I wouldn't normally expect to see a parking ticket reflected on your credit rating, so it may be something else.

You are entitled to a free copy of your credit rating every 12 months as a minimum.
You can use our free service at www.FreeCreditRating.com.au to send you all of the details of the fastest ways to get your free credit ratings if you like.

Good luck and please feel free to ask more questions

Warm regards

Graham Doessel
Graham Doessel CEO of MyCRALawyers chats to the Peter White CEO of the Finance Brokers Association of Australia about credit repair
Q: Where do I find a loan shark in Adelaide that will take a chance on me for a loan
A: Hi Cameron,
I'm sorry to hear you feel only a "Loan Shark" would 'take a chance on you'.
If it's okay with you, I'd like to try and learn a little more about your situation to guide you towards better options.

You can choose to answer my questions here to help others in a similar situation to yours, or you might like to call me on 1300 667 218 for a confidential (no charge) chat.

1. why do you believe you need a loan shark?
2. do you know if you have any bad credit?
3. if yes, do you know what's on your credit rating?
4. do you have a copy of your credit files?
(if not, we can help you get a copy of them for free.)

Cameron, we're here to help you like we've helped so many people just like you get their lives back on track.

I look forward to our upcoming chat!

blog post
Can I please ask you to think back for just a moment, and remember if you've ever had a Consumer Mortgage Application declined because of Bad Credit listed on their:
a) Individual Credit ...
Q: I have a horrible credit rating and currently unemployed but I need finance for my next venture. I have more than enough equity in my home for what I need but who or how do I go about getting a loan, who should I be looking to speak with?
A: Hi James,
Just checking in to see if you need a hand with your credit rating?

let me know if you need a copy of your credit files or just some info about the process. I'm happy to point you in the right direction.

Q: Looking for some general advice in this kind of situation:

- Purchased investment property within a company structure for the purpose of renovation and subdivision to sell on
- Market and personal circumstances have changed and so now the primary purpose of this property is to hold for capital growth (rental income does not cover interest repayments)
- Property is on >800sqm of low density zoned land on the northside of Brisbane and has good long term growth prospects
- Selling at this point would most likely lead to a small loss due to sales costs involved
- Due to the holding structure, the is a small land tax bill every year which would not be an issue if held in my own name
- There is a potential to proceed with original subdivision plan in the distant future (most likely >5 years)

Would it be wise to wait till the capital growth covers these losses and sell the property to break even OR hold on for capital growth in the much longer term, knowing it is in a structure that won't be eligible for the capital gains discount in the future?
A: Hi PJM,
As both Scott and Brendan have suggested, Great Question!

They are the people to talk to about finance and finances etc, and I might be able to assist in other areas.

I believe the spreadsheet idea to crunch the numbers and do (or redo as the case may be) a Feso on the property is a great starting place.

The 'bloody land tax' will continue to add to the holding costs, in addition to interest and everything else.

Perhaps (by way of chucking 'ideas' at the wall to see what sticks...) look at a JV with someone to help you finish the project?
Perhaps look at the original DA/BA (if they exist yet) and see if changing will make the project more viable sooner?

Sorry mate, I could be wasting your time with ideas like these. or hopefully you'll see something that'll give you a lightbulb moment and allow you to solve the underlying issues that are forcing you to wait.

Happy to toss around a few more ideas if you see value in it... No charge for a quick brainstorming session (if you buy the coffee) and our Patrick Earl (head of my law firms) might pop along for a free coffee - New Farm coffee might be better than Stafford coffee :-)

Reach out and call me (or Patrick) on 07 3124 7133 as our national head offices are just up the road from you in Stafford.
Q: I own my own home outright worth around $400,000
I also have an investment property worth around 300,00 on which I owe $232,000 and paying 5.6%
I want to refinance to get a better rate but not getting any joy with lenders.
I earn $35,000 p/a and have a rental income of $150.00 p/w
Where should I be looking?
A: Hi Anne,
If I can ask quickly, is it that no one is offering you a better rate because of the 'investment property' aspect?
or is it something else?
How is your credit rating?
have you made more than four applications (for ANY sort of finance) in the previous six months?
or more than six applications (in total) in the last 12 months?
Any defaults, Judgments or overdue accounts? (are you sure? Get the details to check for free at www.FreeCreditRating.com.au)

Hopefully, it's nothing to do with your credit rating. If ever you are curious, I'm happy to step you through and explain what everything on your credit files means (there are four credit reporting bodies in Australia and they may all hold different credit rating information about you).

Thanks Anne, feel free to ask me anything, anytime!

How to follow me on SimplyAskIt.com.au

Don't Be A Victim - Stop Crooks Bleeding Your Bank Account

Q: I have a horrible credit rating and currently unemployed but I need finance for my next venture. I have more than enough equity in my home for what I need but who or how do I go about getting a loan, who should I be looking to speak with?
A: Hi James,

Michael (above) is correct. Lenders will need to see that you have the capacity to repay the loan.
I can probably fix your credit rating for you so you look better to lenders, but the loan repayments will still need to be addressed.

If you have a copy of your credit rating, I'm happy to take a look at it (at no charge) to see what you might be able to do yourself to make improvements.

Additionally, speak to your broker about borrowing money for business purposes through a private lender. It will be more expensive and you will still have to evidence you can repay the debt, but you may have more flexible options to delay the repayments etc.

I hope that helps a little James. Call me on 1300 667 218 if you simply want to chat about your options first.

Q: Hi
I have a 216 Dollars paid default that I got from origin energy in 2016 as I moved my house and didnt find out abt the bill until I got the call from the debt collector and was paid straight away.
My question is, I have my own cleaning business that has gross income of around 90000.
I want to buy a brand new car worth 50 to 60k next year around May or June.
How hard it will be for me to get the car loan if I come up with 10 to 15 k deposit aswell.
Also, how hard will it be for me to get a 1000 or 2000 dollars limit credit card from my bank like right now.
I just dont wanna try if it's going to get rejected as that affects the score, I've been told.
Any help will be appreciated.
A: Hi Bunny,
As mentioned above, because the default is for a small amount of money, you might be able to get a loan. You might have a bit more trouble getting a credit card with the default still showing (even if showing as paid) on your credit reports.

If you find yourself in a position of talking to brokers about buying a home or a car, make sure you mention the default as the WORST thing you can do is apply for loans or any other type of finance too often.

Too many loan enquiries (even starting with a perfect credit score) will destroy your credit score and credit rating. Most brokers will confirm that as few as four enquiries in the last six months, or a total of 6 credit enquiries in the last 12 months will likely result in an automatic decline from many (if not most) lenders and mortgage insurers.

The good news is that if you find yourself in this position, and you do have a less than perfect credit report, give my team a call (on 1300 667 218) and we can help you get an up-to-date copy of your Equifax and Illion credit files, explain how to read the credit files, what it all means to you specifically, and what your options might be.

So if you have defaults, enquiries, Judgments or other negative listings, there is a very good chance we can fix it for you.

I hope that helps Bunny

Q: News: Westpac, and its subsidiaries Bank of Melbourne, St George Bank, and BankSA, will no longer offer Self-Managed Super Fund loans for new consumer or business lending.

A: Hmmm... Interesting!
Q: What's the best thing you can do when negotiating with someone who clearly is a better negotiator?
A: Hi Joel,
Negotiating can be a Win Win, a Win Lose, or even a Lose Lose.

You can learn to become a better negotiator. I have some books, and other training materials from some very good negotiators. I'm happy to help out if I can.

What type of transaction are you trying to negotiate?
Q: Hi, I am 53 and recently divorced and under financial pressure owing $30k on credit cards. Current superannuation is around $220,000 and would like to ask if I can apply for financial hardship and use some of my super to pay off the cards?
A: Hi Colin,
sorry to hear things are tight. How's your credit file?
If you want to check, pop on over to www.FreeCreditRating.com.au We have set this site up to allow you to find the free credit file order forms with all 4 Australian (and one NZ) Credit Reporting Bodies.
Yes, you could have FOUR Credit Ratings!

Let me know if you need a hand at any stage.

Q: Hi,
just a quick query. Any advice would be greatly appreciated.

My partner and I wish to purchase a home for 990k
We have 400k as a deposit and that is in the form of an apartment we have a sale contract on.
We have 25k in savings and we have an income of 6k nett a fortnight.

The issue is that I myself can not be part of the loan - I previously separated 4 yrs ago and had to take a part 9 debt agreement to continue on in life.

Without my income, my partners is 2k a fortnight,
however - for the past 12 months, one form of my income (superannuation) has been paid into her account and never touched (2k a fortnight). Will the bank be able to take this into account? What are her chances alone on that income to be approved?
I am asking because we would like to place our offer and don't want to be stuck in the dark.
A: Hi Partner A1,
This is a touchy and very personal subject. Well done for having the courage to reach out for help.

Just a quick side note to mention that there are lenders that will still look favourably on you for having met your commitment to your Part IX Debt Agreement.

As Scott mentioned above, it will attract higher fees, but if you guys are ready to move, speak to a Broker like Scott that understands specialist lending and check out your options.

Generally speaking, the Part IX Debt Agreement will be automatically removed from your credit file two years and one day after you finalise the Debt Agreement.

I hope that has helped a little and good luck, it sounds like you've worked hard to get things back on track and a little good luck would be a welcome change from the past, wouldn't it.

Warm regards,

Graham Doessel
blog post
MyCRA Lawyers Top Ten Credit Repair Tips
Top Ten Credit Repair Tips
Tip 1
Simply making an enquiry about finance with a "PayDay Lender"  (i.e. Cash Converters, Nimble etc) can destroy your ability to get certain types of ...
Q: We want to buy a property to live $1.4M and have $600k deposit. Problem is we have two defaults on our record, both paid. We used to run our own business but my husband is back working fulltime as an employee and earns $90,000 a year and I work 3 days a week and earn $50,000. We have been told the only loan we can get is through a 2nd tier lender and the rate would be 4.8%. Is there a chance we could get a lower rate, under 4%?
A: Hi Tammy,
Sorry it's taken me a while to reply to your message.

Most defaults can be removed by a suitably qualified lawyer. My firm, MyCRA Lawyers is the only Specialist Credit Repair Law Firm in Australia.

There are many shonks out there that get lucky occasionally, and one of them was just ordered to pay a total of $1.7million in fines, refunds and legal fees for misleading and deceptive conduct. 14% didn't even have a default, but he took their money anyway! [read more here, https://www.mycralawyers.com.au/?s=asic ]

If you would like professional help, please call my team on 1300 667 218

When you call, we'll ask you questions to get a deeper understanding of what happened in your lives prior to the defaults being listed.
We'll ask you about any communications you had with the creditors during the troubling time.
We'll ask you about any assistance offered (or not offered) by your creditors and so on.

When we have a much clearer idea of your situation, and after looking through your credit files with you (over the phone), we'll be in a better position to make a recommendation as to your options, and actions you can take yourself.

We often see cases where a client has been told to engage a 'credit repair agency' (not a law firm), and the 'credit repair agency' has quoted this, and that, and made all sorts of promises. Thankfully the client has felt uneasy about these 'credit repair agencies' and called us before they made a costly mistake.

In a particular case a few weeks ago, the client sent me her credit files and after a quick look, I immediately saw why the 'credit repair agencies' were so eager to take her money.

The default she was worried about was due to automatically expire and be removed automatically, and for free two weeks later, so I told her to save her money and just wait the two weeks. She was very grateful!

She would have paid one of those 'credit repair agencies' her hard earned money, they would have come back two weeks later and told her "Success", and charged her a success fee on top, when all they did was to do nothing and wait it out. Unfortunately, she would not have realised and actually thought she'd got what she paid for.
(there are in excess of 60 unlicensed 'credit repair agencies' [anyone who is not a law firm is unlicensed] taking peoples money unlawfully at my last count, thank goodness ASIC has started to take action and fine these shonks.)

I hope my information has helped a little Tammy.
I will also post a blog post today with the Top Ten Credit Repair Tips that I think will be helpful for you.

Good luck and I hope to hear from you.

Q: It is reported 75% of Australians over the age of 65 receive the full or part pension from the Government.

Compulsory superannuation was introduced into Australia in 1992 (26 years ago) for employees to have a percentage (now 9.5%) of their income invested into a superannuation fund to help fund their retirement years. The desired outcome was for people to be self-funded retirees as opposed to being reliant on government pensions.

The superannuation industry is a $2.6 trillion dollar industry with something like $26B of fees paid annually.

If after 26 years, 75% of Aussies over 65% are still reliant on the government it begs the following questions

1. Is the current superannuation policy working?
2. Who is really benefiting from the compulsory superannuation regulations?
3. Should superannuation be compulsory or voluntary?

We’d love to get your thoughts and opinions.
A: Compulsory, but I think there should be more focus on the employee understanding its part of their salary package, otherwise it's just another form of tax to small business.
Belinda Explains Why She Says You Should Choose MyCRA Specialist Credit Repair Lawyers

blog post
Brokers! Are you referring clients to unlicensed Credit Repair Agencies?
Credit Repair is a recent phenomenon emerging in Australia, with many unlicensed credit repair agencies popping up offering all sorts of commissions to Brokers who refer clients with bad credit histor ...
Q: I am discharge from part 9 on feb 2017 still showing bankruptcy on my credit file what to do ? Can u remove bankruptcy from credit file?
A: Hi Kamal,
Unfortunately, you are a little stuck as a Part IX is part IX (9) of the Bankruptcy Act.
The Bankruptcy listing will stay on your credit file for two years after you were discharged, so if you were discharged 09/02/2017, you'll have a clean credit file (subject to nothing else being on there that is bad) on 10/02/2019.

My Law Firm, MyCRA (Specialist Credit Repair) Lawyers is the only Specialist Credit Repair Law Firm in Australia and even though our Lawyers can remove virtually all bad credit defaults, a Bankruptcy is not usually something that can be removed, especially after you've been discharged.

The good news is you still have options to buy a home (yes, even as a discharged Bankrupt) so talk to your broker and set a plan in motion as you are almost there and in just a few more months you should be seeing a clean credit file.

A quick word of warning though, if you have even enquired online, on the phone or in person at a 'PayDay' lender, it is likely that they have run a credit check on you which would have left a lender's enquiry 'footprint'.

If a lender (other than another PayDay lender) was to see that PayDay lender enquiry footprint, you are almost guaranteed to be automatically and instantly declined, even if you never took the money from the PayDay lender.

If you're not sure, speak to your broker or give me a call on 1300 667 218 and I'll have a quick look at your credit rating for you at no cost. At least then you'll be able to make plans for your future based on the facts!

Good luck Kamal, and I mean it, if you want me to have a look, I am happy to, just call my offices and ask Andrea fr the email address to send your credit file in for me. Hopefully, you'll be perfect and ready to go in February next year :-) (and if not, you really want to know your options)

With warm regards
MyCRA Lawyers

Graham Doessel
Chief Executive Officer

Tel: 1300 667 218
Q: Hi,

My family has just arrived in Australia after I was transferred from England, the same employer.

We are selling our home in London but want to know is there a minimum time we have to be in Australia before we can buy a property and get a home loan? Also what is the minimum deposit we would need?
A: Good morning Matthew,
That's not my area, but welcome Down Under! :-)

Q: We have been renting for over a year and found a property we would like to make an offer for around $1.2M. We would only need to borrow $650,000 but have had a few credit issues in the past and sold our previous home to clear all the debts …. the credit report is not clean. We both work full time and would like to know if we could still get a loan and what the rate might be?
A: Hi Sophie,
Everything said by Damian, Scott and Abby is 100% correct and to get you a loan with Bad Credit is a very individual assessment, which could see you paying double the interest on your home loan, as compared to having a clean credit rating.

One smart option might be to have MyCRA (Specialist Credit Repair) Lawyers take a look and remove the bad credit from your credit report, thus allowing you to access better quality finance options, and at much better rates and terms.

Full disclosure, I own MyCRA (Specialist Credit Repair) Lawyers and as you've made the enquiry here on SimplyAskIt, I am happy to have a look at your credit reports personally, let you know where you stand, explain what everything on the credit file means, and reveal the options you have including anything that may not be a problem at all...

If you'd like to chat further about your credit rating, please call my offices on 1300 667 218 and ask to speak to me personally (Mention SimplyAskIt) and I'll either take the call or call you right back.

Once you know your options, you can then discuss your mortgage strategy more confidently with any or all of the amazing finance professionals above.

I hope that gives you a little more comfort Sophie. Please call me for a quick chat (no charge of course)

Graham Doessel
Craig Talks About Working With MyCRA Specialist Credit Repair Lawyers

How to get a free copy of your credit reports

Q: I run a small business… does anyone know if the $20,000 tax incentive still available before 30 June?
A: Hi Taj,
What sort of small business do you run?

Q: We have had our home loan with Pepper for 2 years after having a small credit issue. The rate is 5.2% and we would like to know if we have options to refinance. Is 2 years long enough?
A: Hi Jerry,
Generally two years will be fine if the credit issue has since been cleared up by dropping off five years after being added, or having the default or Judgment removed. If you'd like more information about removing a default or Judgment, feel free to call my offices for a chat. The number is 1300 667 218.
If you're not sure about your credit score now, pop on over to https://lph.la/SIU7 to get a free list of where to get up to 5 free credit reports in Australia and New Zealand.
Q: We want to buy an investment property in Port Macquarie, Price - $720,000. We own are own home and want advice if we can use the equity to buying the property and cover all the costs. Our home would be around $330,000. Can the property in Port just be in my husband’s name as he works full time - income $85,000, thank you?
A: Thanks Debbie,
I'm glad to hear you guys are okay.
Happy to chat with your family member and let them know their real options.

Q: We are looking for a short-term loan while the bank sets up our business overdraft - it's going to take another 4 weeks but we have a couple of commitments we need the funds for. Any help or advice?
A: Hi John,
Please be aware that if you take out a 'short term loan' it 'MAY' affect your chances of having an overdraft approved.
Please check with your OD provider BEFORE you even make an application, as an application alone can reduce your credit score as well.

sing out if you need any more info.

Thanks John

Q: We want to buy an investment property in Port Macquarie, Price - $720,000. We own are own home and want advice if we can use the equity to buying the property and cover all the costs. Our home would be around $330,000. Can the property in Port just be in my husband’s name as he works full time - income $85,000, thank you?
A: Hi Debbie,
Can I ask a quick question?
Why is it to be just in your Husbands name?

On the off chance that there may be something on your credit rating, let me know (in private if you like) and I'll point you in the right direction :-)

If I'm off the ark, please ignore me. It's just that in the nine years I've been helping people clean their credit ratings so they qualify for their home loans, I've seen it many times that a couple struggle needlessly to buy in one name when it's often pretty easy to fix the other partner's credit rating so you can spread the load. :-)

Thanks Debbie

Q: As an industry expert and small business owner, what are the 2 biggest issues challenging you as you strive to build a profitable and successful business?
A: I think almost every small business owner suffers similar pains at different times within their business.
I see the top issues for many of them being:

- Lead generation
- Conversion
- Systemisation (to handle the growth after the leads and conversions are sorted)
- Growth strategies
- Exit strategies.

My issues are a little different in that we have those items above reasonably well taken care of, but I'm still not a Billionaire so I have some ways to go yet and constantly look for improvement - Having said that, I guess our two biggest issues are:
1.) We probably under charge to make our services more attainable, and
2.) Unfortunately, most of our market don't know they need us yet.
Q: I have been running my own business for 3 years and have just secured a full-time job.

As my bookkeeper was using MYOB and cloud computing, what happens if I cancel my subscription. Can I still access information and if not what do I need to do before I cancel the subscription, thank you?
A: Hi Andrew,
Congrats on the full-time job.

If you don't mind me asking, can I enquire as to why you went from your own business back to an employed role?

The reason I ask is there may a number of other areas you may need to tidy up, depending on the reason you've made the change, and the circumstances surrounding that reason.

I'm happy to point you in the right direction if we discover any other clean up required.

Thanks Andrew

blog post
Home Loan Borrowing Capacity Cut By 42% Under Suggested Changes!
Hmmm... Is this the biggest bag of BS you've ever seen or what?The following story on ABC suggests someone on $80,000 PA will have their borrowing capacity cut to $195,912... (see original story&n ...
Q: Hello, I am new here. I have difficult time deciding if I should add an extension to my home. We definitely need spare room and we have found amazing architects in Melbourne (http://www.superdraft.com.au/melbourne-architectural-services) but I still don't know if this is going to pay off in the future. Any advice, experiences? Thanks
A: Hi Catherine,
Congratulations on taking positive action to find an answer. You are already ahead of the curve by asking. Too many people just sit on the fence and never get anywhere.

I believe the place to start will be to speak to a mortgage broker, discuss your plans for the home, your income and expenses and see if he/she can work out a mortgage that fits your specific needs. Then you'll be able to see exactly when you'll be able to pay off the debt, and if arranging the extension with increased cost will pay off.

Unfortunately, no one has a crystal ball, and if your meeting with your mortgage broker establishes you can afford the increased debt, the mortgage is not unsuitable, and you like the plan, then you might need to engage a registered valuer (it'll cost a bit but a very affordable way to try to look into the future) to examine your plans from your architects, and make a judgment call of the end value, and the saleability of the improved property.

Then you're in a much better position to make the decision to move forward or not.

I hope this has helped a little Catherine - sing out if I can help you further.
Q: Following on from the previous question, if something untoward was to happen is there a maximum time frame in which we could claim income protection insurance while the pub was being rebuilt?
A: Hi Michael,
You'd really have to speak to your insurance broker about that, as it'd probably be different on different policies.

Sorry I couldn't be of any more help on this one

Q: I have stable employment and earn $220,000 a year. Unfortunately, I made a poor decision to get involved in one of those investment schemes where you get tax deductions up front.

The tax department has since closed down this scheme and I now have to pay $180,000 to the ATO. I have 2 properties but there isn’t enough equity to refinance and pay the ATO.
I don’t want to declare myself bankrupt and would like to know what other options are available?
A: Hi Marcus,
Both Glenn and Sam have nailed it. To be able to help you (and I think you'll need to speak to a Broker, an Accountant, and an ATO Specialist.

You say the ATO says you have to pay $180,000. Sam and Glen both suggested a payment arrangement, which is a great start and will probably relieve some stress, and the question I want to ask you is - "Has the ATO taken any recovery action against you?"

If not, take action before they take action against you...
If you need to speak to a Taxation Law expert (just in case you might not actually owe the whole $180,000), let me know and I'll give you a personal introduction to the best Tax lawyer I know.

Warm regards,

MyCRA testimonial from Louise

MyCRA Lawyers CEO Grahan Doessel speaks to Today Tonight

Q: I’m about to buy an investment property and will have to pay mortgage insurance to get the loan. Is the entire amount tax deductible and when can I claim it?
A: Hi Tim,
I agree with Scott. Get some good accounting and tax advice.

Q: Hi, I’m a small business owner about to buy a new car. What is the luxury tax threshold and what are the implications from a tax perspective if I’m $5-10k over the threshold?
A: Hi Marco,
I just did a google search and found the ATO's website that gave me the following info:

Luxury car tax rate
Cars with a luxury car tax (LCT) value over the LCT threshold attract an LCT rate of 33%.

LCT thresholds
Financial year - 2017-18

Fuel-efficient vehicles - - - - Other vehicles

$75,526 - - - - - - - - - - - - - - $65,094

Hope that helps

Q: Hi

I look after the paperwork for my husband’s business…. He is a sole trader but the business is getting bigger and people have suggested we should structure the business as a company. I would like to ask about the benefits of changing and what accounting and tax issues do we have to consider, thank you?
A: Hi Megan,
what industry is he in?

There are all sorts of reasons someone would incorporate a company for their business, just a couple are:
Asset protection
lower tax rates
Saleability of the business

If I can recommend, you might like to speak to a lawyer, and possibly a tax planner. There are lots of reasons I set my businesses (including the law firms) up in company structures, but to be fair to you, until someone knows what you guys do, how big the business is now, where you want to go in the future etc, then anyone giving advice would probably be doing you a dis-service.
You could call Patrick Earl on 1 3 0 0 A D S L A W and mention that I referred you (he's a senior Commercial Litigator at one of my firms and I'll let him know you'll be calling...)

I hope that helps at least a little... If you need a Tax Law expert, I have a personal friend, Tony (and he's a great lawyer too) with Sydney and Melbourne offices I can also refer you to (no commercial connection to Tony).

With warm regards

Graham Doessel
Q: Hi can someone tell me how can I remove commercial default in my Veda report? Is there a way to take to the court get an order to remove it.
A: Good morning David,
Yes, there is a way to have the default removed and you've come to the right place.
MyCRA Lawyers removes commercial (and consumer) defaults, Judgments and enquiries every day.

The first step is an initial chat to get some more detail.
Then, once we know 'the lay of the land', you'll know if you want to work with us, and we'll know if we want to take you on as a client, then I can give you your options so you can make an informed decision.

Just for a bit of background, MyCRA Lawyers is the only specialist credit repair law firm in Australia, and my entire team does nothing but remove defaults, enquiries and Judgments every day of the week. For your safety, our Trust account is audited, as is our proven success rate meaning we remove virtually every default that we work on.

You can look up my details, or call our offices on 1 3 0 0 6 6 7 2 1 8, find MyCRA Lawyers on Facebook or reply here for more info if that suits you best.

Thanks David

With warm regards,
MyCRA Lawyers

Graham Doessel
Chief Executive Officer
mycralawyers dot com dot au
Q: My partner and I are currently in a long distance relationship of 3.5 years. He resides in Samoa where he has completed his diploma in electronics and a certificate in Cisco IT Program provided by the National University of Samoa. I am currently working part time and full time study Bach of Arts/Law at uni. I'm desperate to find a way to bring my partner to Australia on a permanent basis where we can live together and for him to be able to work.He has visited Aus twice. Cananyone help us please?
A: Dear Maua,
We have an immigration division at one of my Law Firms. Perhaps a conversation with one of my team may be beneficial?
If so, please look up my profile and make contact with Patrick, Ross or Adrienne at Visa Easy (A division of Armstrong Doessel Stevenson Lawyers).

Thanks Maua

Graham Doessel
Q: I am a discharged bankrupt and my wife is here on a spouse visa. Despite being advised otherwise we are still having trouble getting finance for a car that my wife needs to get to work. What are our options?
A: Dear David,
let's take a look at this for you and see if we can uncover your issue...

When were you discharged from your bankruptcy?
What do you do for a living now?
What is your annual income?
Do you have any other debts?

How much is the car you want to buy?
Are you buying it privately or through a dealer?
How old is the car you want to buy?
What is the make and model of the car you want to buy?
Do you have a deposit for the car purchase?

Have you any other defaults or judgments on your credit report since declaring bankruptcy?
How many times have you applied for finance in the last 6 months and 12 months?
Have you ever applied (in the last five years) for finance with a 'payday' lender? (like cash converters, nimble etc.)

If you can answer these questions here, it might become clearer why you have been knocked back for finance.
And, it might help others understand a little more about getting a loan...
If you prefer, look up my profile and contact me directly.

Thanks David,

Q: Had a few credit issues… is there a minimum credit score you can have and still qualify for a home loan?
A: Hi Leigh,
There are more answers than just higher interest home loans...

If you know what is on your credit file, you are in the driver's seat to improve your situation.
Do you know what is squashing your credit score?
Do you have defaults or Judgments?
Do you have too many enquiries for credit?

You have the right to challenge the validity of any element on your credit file - and I suggest you do.
If you get stuck, can't understand your credit file, can't find the correct department within the defaulting creditor's organisation, simply don't have time or anything else, let me know and I'll have a look at your credit files for you at no charge or obligation.
I will tell you what your options are and point you in the right direction, what to look out for, what to avoid and if you want to do it yourself, where to start. if you want someone to do it for you, I can point you to the only specialist credit Reporting Legislation law Firm in Australia...

As everyone above has indicated, if you have BAD credit, it could cost you but it is still possible. if you get cleaned up first, you could go from the 12% suggestion of Nathan, back down to 4% or 5% area with Nathan or your preferred broker. (12% back down to 5% saves you a full 7% per year, that's $7,000 in interest every year, for mevery $100,000 you borrow...) Massive savings potential.
Look me up in my profile if you want a quick chat.

I hope this helps

Q: My partner and I are separating and I'd like to know if it is possible to freeze our redraw account until our house is sold?
A: Hi Anita,
Yes, I believe your First action should be to get advice from a Family Law Expert. My friend Patrick Earl is someone you might like to call on 1300 ADS LAW (1300 237 529) [one three hundred, two three seven, five two nine] as he is a Family Law Expert with clients interests in mind...

Sorry to hear the relationship didn't work out, hopefully, Patrick can point you in the right direction to make it as painless a process for you as possible.

Q: Business question... I'm thinking of leaving my employment and becoming a contractor. I think I have a handle on the things I need to be considering but would like to get some advice from people running their own business on how they found it starting out, what they didn’t expect and what they found work for them? Thank you
A: Hi Tony,
A great place to start is www.Business.gov.au

Q: Hi I'm buying a small business and it's lets say $ 130.000. I have a mortgage of $270.000 (house value is $540.000. I have savings of $200.000..What is best to do with my savings ? put it on the mortgage, or buy the business.. Or invest elsewhere..
A: Paul,
Business can be exciting and painful in the same day.
Get some good financial advice, some good legal advice, some good accounting advice and some good business advice, THEN and ONLY THEN, decide if the business you are looking is worth your money, your time and your blood, sweat and tears...
Good luck and ask lots more questions mate

Q: Curious as to how a boarding house would be valued? Would it based on the asset or the income it generates? Or both?
A: Hey Justin,
All good information.
I recently assisted a client with the financing of a boarding house and it was simply looked at as a residential property.
Another lender may view it completely differently.
As stated above, there are many many factors to take into account and the structure of any lending (if that's what you want to do) is dependent on knowing what you want to achieve.
If the question is not a finance related question, and just a curiosity question, then the simple answer is either or both, depending on who is valuing it and the purpose of the valuation.
you may take the income into account or it may be based exclusively on the raw asset value.

What are you hoping to achieve Justin?
Do you own a boarding house?
Are you thinking of buying a boarding house?
Are you thinking of converting a property from a standard property to a boarding house?

let me know where you are headed and I'll see if I can give you a little more direction...

Thanks Justin

Graham Doessel
P.S. You look a little like a Justin G... I knew years ago in Qld... Is that you? Either way, happy to help where I can :-)
Q: Our credit history isn’t good because of a struggling business but all debts have been cleared. I have had a full time job for 2 and half years and my wife for 18 months and we want to see if we can buy a new home. Will our credit history stop us from getting a loan, what deposit will we need as we have around $60,000?
A: Hi Jordan,
Ken is right. There are many factors that affect your ability to borrow and while your credit history is VERY important, even people with clean credit histories are often declined for finance.

I am happy to have a look at your credit files (yes you have more than one) for you at no charge and point you in the right direction. You may (and probably do) have options you were unaware of...

Do you have a current copy of your credit files? (I can help you get them if you don't yet have a copy)
The three main ones you should be aware of right now are:
1.) Equifax (formerly Veda Advantage)
2.) Dun & Bradstreet
3.) Experian
I see you are in NSW so unless you have lived in Melbourne or Tasmania, there is little likelihood that you will have, or need to check TASCOL, the fourth credit reporting body.

Once we know what's on your credit files, (And Ken needs to know also if he was going to help you) I can point you in the right direction so you know what your options are.

As a starting point, here's a little info about bad credit:
Defaults stay on your credit file for five years from the listing date
Judgments stay on your credit file for five years also.
Serious Credit Infringements (also known as clearouts, which you won't have any of) are on there for seven years
Part IX or Part X agreements are a little less clear but they too have limited life spans.
Credit enquiries stay on your credit report for five years but have less impact after 12 months than other listing types...

There are a number of other issues you might like to be aware of Jordan and if you would like to chat when you're ready now is as good a time as any to know your true positions and learn your options.

click on my name to see my profile and we can have a quick chat when you're ready.

Either way, good luck and I hope you get into your home soon.

Q: Im a 40 year old struggling terrible

I have 2 children every other weekend.
I have had advice regarding my financial situation and have all said bankruptcy is my best option.
Im needing to move into my own place for the sake of my children.
If i go bankrupt, can i apply for early release on my super?
I have nothing of my own regarding house goods. Need everything?

Thankyou in advance

A: Hi Rene,
Financial struggles can be one of the hardest struggles to get your head around, especially if you haven't received good financial advice.
Can I suggest you pop over to a financial councillor and seek some guidance.
There are several free services 'in the book' or on the internet.
I have no affiliation with any of them, but the first one that comes to mind is LifeLine. I don't know if they are good or not, but can only imagine they'd be trying to offer a very valuable service to those that can't afford a paid financial advisor.
Chat to them, listen to their advice and then, if it sounds reasonable given your personal circumstances, make a educated and values based decision.
Sometimes bankruptcy is the right decision, and sometimes it is not. I have been bankrupt personally many years due to a business partner helping himself to all my money, it's not a thought I liked to entertain, but once I'd made the decision, I felt a sense of relief.
You need to make sure that you understand how it will impact your situation, and that's why you need to seek professional advice.

Good luck Rene, I hope you find the direction you're looking for.

Q: I own a commercial terrace in Sydney with an office on the ground floor and a self-contained residential apartment on the two floors above (with its own access). The property is on the one title and isn't strata. I'm having a hard time finding a bank that wants to refinance the property and I'm not sure why - I have tons of equity in it. Can anyone suggest a good path to go down to get the property refinanced?
A: Hi Piers,
What the others have said above is partly correct, but like in any story, the devil is in the detail.

The areas I see that are likely to be impacting your borrowing power are including, but not limited to:
1.) Is the property owned by an individual/s or a business (or Pty Ltd, Trust, etc)?
2.) What is the zoning of the property?
3.) Do you (or the entity that owns the property) have demonstrable income sufficient to meet the lenders needs?

In addition to the basic questions above, have you formally applied for a mortgage already?
If so, have you applied for additional finance elsewhere?
If so, you may now have a low credit score due to too many credit enquiries in the last six or 12 months...
(one enquiry with the wrong lender can black list you, or just four enquiries in the past six, or six enquiries in the past 12 months and you can be out of the traditional lender game completely)

If your property is 'commercial' and owned by a Pty Ltd, your options just opened right up. BUT BE CAREFUL...
Make sure the broker you are dealing with fully understands your financing goals, and the reasons behind you doing what you are doing...
Make sure they ask lots of questions as they can't possibly understand your situation without asking LOTS of questions...

If you need a hand, click on my name to open my profile and call my offices, mention you need to speak to me and that we've chatted on Simply Ask it (my gatekeepers are excellent), and I'll happily point you in the right direction.

Either way, good luck and I hope my info helps you get your finances sorted :-)

Q: My father is old and he didn't want to live alone or a home.
So he decided to sell home and live with us so we could look after him, but our house was small so we sold our home.
So dad gave us money from the sale of his house as a gift.
So we bought a house and put the house in our names not dads.
My question is after dad passes away, can family members take our house away from us?
A: Hi Graham,
I too would strongly suggest you contact a Lawyer ASAP as this is NOT an open shut situation. Pick up the phone and call a lawyer you trust.
These sorts of situation can have time bombs ticking away just waiting to come back at the worst possible times and bite you in the ... bottom...
As James mentioned above, you have other avenues you can look at as well. Discuss these with your Lawyer as the more info you can give him/her, the better advice they can give you.
Good luck Graham, sing out if you need and further questions answered...

Q: Hello,
My partner and I have a rental property that is costing us a fortune in ACT Government Land Tax.
Our tenant is my partners son and we are looking at getting him to purchase a third of the property so it will no longer be a rental property.
There is still a mortgage on the property of around $310,000 and the property estimated value would be around $580,000.
What is the best way to go about this and is there any way of preventing (or minimising) Capital Gains Tax?
A: Hi Michael,
Capital Gains Tax (CGT) is only an issue if you've made a capital gain.
That is (in simple terms) the difference between what you paid for it and what you sell it for.
There may be several other possibilities at your disposal other than the one you have mentioned here.
Have you sought legal or financial advice yet? Probably a good idea... I have some good contacts with both of those.

Also, the way you structure the sale is VERY important both in terms of how it'll affect you, and how it'll affect your partner's son.

If you want to chat further, look up my profile and give me a call. Happy to point you in the right direction - no obligation at all.

Hope some of that helps...
Q: Parents are thinking about buying into a retirement village and we would like to get some advice on the options and the contractual arrangements they need to be aware of. In one discussion it was mentioned they would lose up to 40% of the property when it came time to sell. Is this considered normal practice….. are there other options available?
A: Dear Peter,
I agree with Ken... Get Legal advice ASAP

Q: Hi, the vendor of a property that i purchased has a mortgage of $480,000. The purchase price was $720,000. is this a problem for the purchaser? please give reasons why. thank you
A: Dear Nerka,
The normal practice is that when a property is purchased, the mortgage is paid out by the purchaser's solicitors, from part of the purchase funds BEFORE the balance of funds are forwarded to the vendor.

So, as long as normal processes were followed, there should be no issues for the purchaser.

I hope this is helpful.

Q: How do we know what the right amount of insurance is for our property. Do we just use the minimum amount the bank has requested?
A: Dear Anne,
I am glad you have asked this question, as it's very important that you get it right...
You WILL need to speak to an insurance professional to get specific information about your specific circumstances as, if you don't get this right, and you're uninsured, you could lose even more tht you'd expect...

For example, and I may not have this exactly right, but it goes something like this...
If your home is valued at $100,000.00; and
You under insure it at $80,000.00;
(You'd think) you'll get paid $80,000.00; BUT

Your insurance company may match your underinsurance percentge

since you're under insuring by $20,000.00
Your insurance company my deduct AN ADDITIONAL $20,000.00; meaning
instead of being paid out $80,000.00;
you may only be paid out $60,000.00; as follows

Property value $100,000.00 (you insured for $80,000.00)
Less your under insurance of $20,000.00
Less Insurance Co's deduction $20,000.00 (yep, they deduct TWICE the actual under insurance amount)

Your actual payout $60,000 ($40,000 less than you need)

So, the BIG takeaway here is, GO And Get Specific Insurance Advice To Protect Yourself ASAP...
Q: Can we split our home loan into 2 accounts... one as principal and interest and the other interest only. Can the interest rate be the same for both as the advice we have received is a little confusing... some say we can and other say the rates will be different?
A: Hi Stuart,
Good question, do you mind if I ask why you want to do this and what you hope to achieve as the end result?
By better understanding your desired outcome, I might be better able to point you in the right direction...
Q: Under the Restaurant Industry Award, if I don't get an unpaid 30 minute meal break, am I entitled to a penalty rate from the 6th hour until my shift finishes?
And if yes, is it still applicable if after working over my ordinary hours (38) halfway through my 4th shift (5 working days p/week) when overtime penalties come into affect?
A: Dear Travis,
I met a Human Resources & Industrial Relations Specialist when I was presenting at the Small Business Association of Australia's Summit Tuesday and Wednesday this week.
His name is Leigh Bernhardt of Corporate Consulting Services and as it happens, he was using the hospitality industry as his example when he was discussing penalty rates in his presentation. His mobile is 0 4 1 2 3 9 9 1 4 5
He may be able to point you in the right direction and I will invite him on here to Simply Ask It but he's not here yet.
Good luck, I hope you get the info you're after.

Graham Doessel
Q: Hi
I have two properties one i live in and a weekender. I cant receive my pension because of this.
Would i be better off selling both and buying one. Or could i transfer one over to my son and live in the other.
I am worried that I may never receive a pension if i make the wrong choice?

A: Hi Mario,
You are right to be asking questions about this. If you make the wrong decision it could seriously hurt you. In this case, I would counsel you to have a chat to somone who is licensed to advise you.

I don't know Stuart but he has offered to help and he is a financial planner. I would think a quick chat might be able to set your mind at ease, and you do need a clear mind on this...

There may be options you had not considered that Stuart can help you with. If you like what he says, probably a follow up face to face with both you and your son may be advantageous.

I'm sorry if I'm overstepping Stuart, I just believe the importance of getting this right is something that can't be overstated.

Good luck Mario :-)

Q: My daughter has a small car loan , but cannot drive the car she bought as it has fallen apart around her. She needs a car for work and she is only a trainee , what would be her best options to be able pay the existing loan out and getting herself into a new car?
A: Thanks for the extra info Rodney, i have extra clarity and options are are taking shape. I think a quick chat will fill in some gaps and allow me to offer more specific and structured suggestions.
Before we go there, another couple of quick questions...
Do you know specifically what's listed (if anything) on your credit file? (Don't answer that here, just reflect for our chat)
One you can answer, do you have an up to date copy of your credit files, minimum of Equifax (formerly Veda Advantage) and Dun & Bradstreet?
If you do have copies of your credit files, we can discuss them (again, not on here) and the options still open to you.
If you want, I am happy to have that chat and structure a path for you that'll alow you to help your daughter now.
Just do a google search for me, and call my offices, get me on facebook, on linkedin, skype... I am pretty easy to find as I've been helping good people out of bad situations for around 20 years :-)
I think you are in a much better situation than you believe. I can help you discover what you can and can't do.
Thanks Rodney

Q: We are looking at buying a home and living in it for now. We will basically have no mortgage on the property. In afew years time we will look at renting that property and moving to another. Is there a way to set this up so that we transfer the money from one property to the other to maximize negative gearing?
A: Hi Sarah,
I believe you need to get professional Accounting and Taxation advice as you may have additional options not yet discussed above. As I am not an account, financial advisor or taxation expert, I am not legally qualified to tell you what you can or can't claim. I believe a discussion with a property tax expert might reveal other options...
Good luck Sarah.
Q: My daughter has a small car loan , but cannot drive the car she bought as it has fallen apart around her. She needs a car for work and she is only a trainee , what would be her best options to be able pay the existing loan out and getting herself into a new car?
A: Hi Rodney,
Thanks for your enquiry. Can I ask you a couple of quick questions...
How much does she still owe on the existing car?
How much does she want to spend on a new car?
Can you help her if needed as a guarantor?
There are always options available. We just need to find the best option to suit you and your daughter's specific circumstances.
Q: I have 2 credit cards and a car loan, my pay isn't the best out there, i was wondering if it would be smart to consolidate all of my debts and who would be the best to do this with? I dont want to have too many inquiries on my credit file
A: Hi Kathy,
A consolidation loan can be beneficial or disastrous, and it all depends on your personal suituation. I am happy to take a look at your situation for you and point you in the rights direction - no charge.
Just search google for "Graham Doessel" and grab my phone number...
Q: i run my own business. I like cars and they are my golf membership! I buy 2-3 year old models and follow trade prices. i sell well & typically get close to what i paid (if not more) 12-18 months. have high deposits, 4-5 years & 40% residual. Extinguish within 18 mths. Use chattel mortgage. seeking a 2007-9 car, what options might exist for a little older car?
A: Hi Rohan,
I can point you in the right direction for financing cars up to 15 years old generally and much older if you (and the car) meet the criteria - (different for each person and vehicle).

look at mortgage now dot com dot au
Q: My 22 y.o. son wants a personal loan of $25000 to help me with my mortgage debt and do some car repairs. He has a credit score of 489 and has been declined 3 times. Does he have any options?
A: Hi Deborah,
You said you were going to call me back. Please do so we can finish our chat
Thanks Deborah
Q: I am a sole trader who's credit rating doesn't clear until the 2/11/17. I have a proven track record of payments of up to $451.61p/w and I need a work vehicle as soon as possible. Any potential lender available that may consider my case? Thank you.
A: Hi Cameron,
Just checking in to see if you were helped?
Perhaps one option for your future might be to look at MyCRA Lawyers removing yout bad credit?
Call me on 1300667218 for a chat to discover your options open to you today.
Good luck mate
Q: I'm looking for an accounts person for my small business. What is a reasonable amount to expect to pay?
A: Hi Natalie,
Are you looking for a book keeper or an accountant?
I have just been through the process and employed a new internal accountant a couple of weeks ago.
While the previous respondents are correct with their advice about fair work, you can also try looking it up on Google.
Q: Is it possible to use the funds from a personal loan as the deposit to get a home loan?
A: I hope all of the answers have helped Seb. If you get stuck, reach out to the person that you feel comfortable with and, by now, you should start to be getting some clearer direction.
Good luck Seb.
Call me on 1300 667 218 when you want further clarity.
Q: My 22 y.o. son wants a personal loan of $25000 to help me with my mortgage debt and do some car repairs. He has a credit score of 489 and has been declined 3 times. Does he have any options?
A: Hi Deborah,
Firstly, I'm sorry to hear you're in a tough spot, I've been in a few myself so hang in there...

Realistically, if your son has three declines in the recent past plus a couple of defaults, he's unlikely to be able to 'easily' get a loan (though he may still have options open to him).

I can probably point you in the right direction and if it's okay, can I ask you a few quick questions before you call me later for a chat...

Have you tried to access your super to get you out of trouble?
Have you explained your curent situation to your lender?
If yes, did they offer you hardship?
Have they issued you with any notices yet? If so, which ones?
You may have already addresed these few initial items and I'm not going to lie to you, your options are limited, but you still have options.
If you'd like to have a quick chat, please call me for a one on one (free) discussion.
I'm happy to help if i can. Call 1300 667 218 and ask for Graham.

After a quick chat, you'll better understand your options.
Q: Is it possible to use the funds from a personal loan as the deposit to get a home loan?
A: Dear Seb,
The simple answer is YES. You can use the personal loan funds as a deposit. You will need to find a lender/broker that can find you the right product as, like many before have mentioned, many lenders may not like the borrowed funds however, there are many lenders that will accept the borrowed funds as a deposit.
If you get stuck, I can point you in the right direction - no obligation.

Good luck Seb :-)

Graham Doessel
Q: We have recently taken out a mortgage but have had to go with a loan that has a higher than average interest rate because of a small issue on my husbands credit file. Assuming we make payments early, how long until we can refinance at a lower rate?
A: Hi Michelle,
It seems you and your husband have fallen into the same trap as many thousands of others.

There are many comments from some very experienced people who have set out to poi t you in the right direction.

My law firm, MyCRA Lawyers works exclusively in removing defaults and judgments from our clients credit files.
I am happy to have a no obligation, no charge look at your (husbands) credit report and let you know exactly where you stand right now, what you can do next and what your other options might be too.
If nothing else, at least you'll know where you stand. It would be good to know what's what wouldn't it...

Call my offices on 1300667218 anytime. I am also a Finance Brokers Association of Australia State Councilor for Qld and NT so I'll be at the FBAA national conference all day tomorrow, but I'm happy to look at it on Monday for you.

I hope this makes you feel a little more comfortable and I look forward to chatting with you both soon.

With warm regard,
MyCRA Lawyers

Graham Doessel
Chief Executive Officer