Handing back the keys doesn't always clear the debt. If the bank sells your car for less than you owe, you can still be chased for the difference.
Voluntary surrender sounds like giving up, but for some FIFO workers still off the roster it's the cheaper option. Here's the actual math before you decide.
Missing a car payment is one thing, but there is a formal process to freeze or reduce repayments before it wrecks your credit. Here is exactly how to use it while you are off the roster.
Missing one premium payment can void your cover completely, and if you're in an accident while lapsed you could be personally liable for the full cost of repairs or a write-off.
Missed strike pay doesn't stop your Afterpay and Zip repayments from hitting your account. Here's what actually happens when those small weekly debts start stacking up on no income.
Missed a personal loan repayment while you're off the roster? Here's exactly what your lender can and can't do next, and how fast it escalates.
Every week without a paycheck pushes more expenses onto plastic, and the interest doesn't stop just because your roster did. Here's how fast a manageable balance turns into a serious problem.
If your car is a novated lease through payroll, no pay doesn't just mean no wages, it means the lease payments and tax benefits you're counting on can unravel fast. Here's what actually happens to the paperwork most FIFO workers never read.
Weeks off the roster mean less taxable income this year, and that changes your compulsory HECS repayment. Here's what actually shifts on your tax return and what still keeps growing in the background.
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