Situation becomes worse in Australia
Citizens of Australia are scared of filing bankruptcy. The price of oil has crossed the level already. Oil is such an important commodity that controls the price of almost everything. With the existing amount of debt and the heightened rate of interest for mortgage, people are anticipating a hardship. But what is the solution?
The number of bankruptcy suits has started to increase already. Paul Leroy, a partner with chartered accountants Hall Chadwick is of opinion that people with low income group might fall behind with mortgage payments in near future. A similar trend is not impossible in the corporate world even.
Where will we end up ???
Source: The Advertiser