DECEASED Queenslanders, including a dead newborn, have had their identities stolen from graveyards and sold to criminals in a scam described as "sick" by the mother of one of their targets.

A Sydney court jailed drug dealer Charles Michael Cassar and prostitute Bonny Purac after hearing they spent nine years trawling cemeteries across Australia collecting the details of dead people, with Queensland targets including a disabled man and a baby less than two days old.

The couple then created fake "identity kits" using the details of the deceased, including bogus passports, Medicare cards, drivers' licences and bank accounts, which they sold to criminals for up to $30,000 each. Full story

Bankruptcy is usually a 3 year term however this may be extended up to 8 years in total in certain circumstances when a Trustee in Bankruptcy lodges

An objection to discharge may be lodged at any time before a bankrupt is discharged from bankruptcy under Section 149B of the Bankruptcy Act, 1966, by either the Trustee or the Official Receiver. Section 149B states:-

(1) ……………………………. at any time before a bankrupt is discharged from bankruptcy under section 149, the trustee may file with the Official Receiver a written notice of objection to the discharge.

(2)  The trustee of a bankrupt’s estate must file a notice of objection to the discharge if the trustee believes:

(a) that doing so will help make the bankrupt discharge a duty that the bankrupt has not discharged; and

(b) that there is no other way for the trustee to induce the bankrupt to discharge any duties that the bankrupt has not discharged.

Bankruptcy can be extended for up to 5 years if one contravenes any of the following:

1. when bankrupt, you left Australia without permission by your Trustee;
2. you entered into a transaction prior to bankruptcy which was later declared void by your Trustee (either a preferential payment or a transaction at undervalue);
3. whilst bankrupt you continued to act as a company director;
4. whilst bankrupt you obtained creditor of more than $5,009.00, without disclosing that you were bankrupt;
5. you failed to attend an examination or interview as directed by your Trustee (without a reasonable explanation);
6. you failed to attend a meeting of your creditors as directed by your Trustee;
7. you failed to disclose an asset or a beneficial interest in an asset;

Bankruptcy can be extended for up to 8 years if you if contravene any of the following:

1. you entered into a transaction which was declared void by your Trustee but was entered into with the intention to defeat creditors;
2. you made an excessive payment into a superannuation fund with the intent to defeat creditors;
3. you failed to provide a written explanation to your Trustee about property, income or expected income;
4. you intentionally provided false or misleading information to your Trustee;
5. you failed to disclose full particulars of income or expected income;
6. you failed to pay compulsory income contributions;
7. if within 5 years of you becoming bankrupt, you did any of the following:
8. a. spent money but failed to explain adequately to the trustee the purpose for which the money was spent; or
9. b. disposed of property but failed to explain adequately to the trustee why no money was received as a result of the disposal or what the bankrupt did with the money received as a result of the disposal;
10. whilst bankrupt you left Australia and failed to return to Australia when requested to do so by your Trustee;
11. you refused or failed to sign a document after your Trustee requested you to sign the document;
12. you intentionally failed to disclose to your Trustee your beneficial interest in any property

The Consumer Action Law Centre has welcomed the Federal Government’s proposed cap on the amounts lenders of high cost short term loans (often referred to as 'payday loans') can recover from consumers, saying that the proposed changes would  better  protect consumers from  lenders  who currently charge effective interest rates upwards of 600 per cent per annum.

Co-CEO of Consumer Action, Catriona Lowe, said her organisation had seen  too often the harm caused by pay-day loans first-hand and that greater regulation of the industry was badly needed. “Today these loans carry enormous effective interest rates.  They are given in the main to low and fixed income borrowers to fund recurrent everyday living expenses such as food, utilities and car repairs. Repayments are generally secured through direct debits, which take a first stake in a borrowers income - leaving a low income borrower without enough money for everyday living. Quite clearly expensive credit doesn't help when you don't have enough to live on  - indeed it often prompts further lending and spirals of debt.”

Ms Lowe said that Consumer Action and its predecessors had been lobbying for an interest rate cap of  48 per cent, which would include all fees and charges,  since high cost short term lenders appeared in Australia over a decade ago.

“Some states already have an effective cap on interest  rates but the majority, including Victoria, don’t. This leads to the absurd situation where borrowers on one side of the Murray River areprotected from predatory lenders, while those on the other side are not.

“Whilst the proposed approach does not have the proven track record of a comprehensive 48% cap, we’re pleased that under the new national approach, all Australian borrowers will now be afforded the same protections,” said Ms Lowe.

But while Consumer Action welcomes the proposed reforms, Ms Lowe said strong enforcement of the new rules was crucial to their success and that without it, consumers would be at the mercy of rogue lenders.

“The proposed laws are welcome but, as always, the proof will be in the pudding and if they aren’t enforced all the Government’s good intentions will count for nothing.

“ASIC really need to step to the plate because these reforms are complex and they’re unlikely to be embraced by the industry. In the past we’ve seen lenders look to exploit loopholes in legislation and if the ASIC aren’t on their toes the same thing could happen here.

“We’ll be marking the success of these new laws against two very simple measures: have they led to a reduction in harm caused by  high cost  short term loans, including  a reduction in fees and effective interest charged and, has the overall number of these loans significantly decreased. We’re cautiously hopeful, said Ms Lowe

In Australia as many as 25% of the population have an adverse listing on their credit report that's held by Veda Advantage.  The information contained in those reports is used by lenders to access an applicant's credit history.  In most cases just one minor blemish will prevent a loan approval.

If you have a credit default it is possible to have it removed.  There are a wide range of reasons that enable the removal of a default and it's best to speak with an professional in the field to find out what's possible.

The first thing to do is visit www.badcreditfixed.com.au and complete a Credit Repair Statement.  Once that's lodged a credit professional will get back to you with what may be possible.

Bad Credit is like a bad movie, it doesn't get better the longer you watch it.

THE cyber-crime wave against big companies in recent months provides a chilling reminder that no brand is immune from attack.

While data security breaches have been on chief executives' risk management agendas for years, consumers are now in the line of fire, and companies must be asked if they are adequately protecting their customers. Full story

Ask people in the street what you need to get a home loan and they will probably tell you: a deposit and a full-time job.

But today's lenders are looking for a lot more than that, putting the complete financial history of an aspiring home-buyer under the microscope to determine whether they are ever going to get their money back. Full story

News.com.au report:  ONE in 10 adult Australians have lied about their personal financial information when applying for credit, research for credit agency Veda Advantage has found.

And this figure is on the rise, with an increase of 200,000 Australians admitting to misinforming their financial institution compared with six months ago.

The Galaxy Research showed 1.06 million Australians had understated their total expenses, 328,000 Australians had overstated their income and 427,000 understated the amount of money currently owed on credit cards.  Full story