You may be able to sell an asset, such as a house, car or investments, to give you more cash to cover expenses or repay debts. It’s a good idea to speak to a financial adviser about which assets to keep and which to sell. If you are considering selling an asset, such as property or shares, or cashing in superannuation or other similar policies, make sure you get advice that explains any tax issues and maximises your return.
If a lender has a court order to sell your property to recover a debt, ask them in writing to postpone enforcement of the order so that you can sell your asset privately. You will probably get a better price if you arrange the sale yourself or through an agent.
Video: Debts and everyday expenses
Struggling with debt or bills? Learn how to manage your finances and get support from a financial counsellor. Watch now for practical tips and resources.
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HWL Ebsworth Lawyers, Sydney, NSW; Leigh Aitken, Consumer; Mary Bairstow, Senior Social Worker, Cancer Centre, Fiona Stanley Hospital, WA; Lynette Brailey, Team Leader Financial Counselling, Cancer Council NSW; Corinne Jones and Siew Tan, Financial Counsellors, Cancer Council VIC; Penny Jacomos, Social Worker, Asbestos Diseases Society of South Australia, SA; Dr Deme Karikios, Head of Department – Medical Oncology, Nepean Cancer and Wellness Centre, Nepean Hospital, NSW; Valerie Parsons, 13 11 20 Consultant, Cancer Council SA; Viridian Financial Group, Melbourne, VIC.
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