Accounting
Doug Constable: In this episode of Doug on Debt: we talk about what happens when you borrow money to pay debts. Alot of people in Australia buy their dream home not ever thinking about what would happen if they couldn't pay their mortgage. But rather than offer you hardship facilities, some banks actually offer you more debt! This is on top of already rising late fee's and later, legal fee's if the repayments fall behind even more. Before you fall into the trap of paying debt with debt (or credit); maybe seek other alternatives to get back on top.
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Accounting
Do you need to be a Director, to invest into a family business in Australia?
Wednesday, March 04, 2015
Doug Constable: In this episode of Doug on Debt: Do you want to help a family member start their business – by investing some money as startup capital? Think twice before deciding to become a director aswell. Savvy investors know that when they put cash on the line (either through shares or venture capital), they have a great chance of never seeing that money again. But since they aren't usually directors, they don't share the liabilities if any debts are incurred. Do your research and invest wisely. If you don't think that the person you're investing in can actually run the business, think again before putting up the capital!
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