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Conciliation/mediation orders

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Financial settlement

Orders at conciliation conference for financial settlement.

Note. I am not a legal rep and do have council, but please do not tell me to ask them. For moderator accept my apologies if my question is not for this forum or site as I am new to this site and only looking for guidance.

Yesterday  I agreed orders where I need to borrow approximatly 40,000 AU$.  

1) In one week the orders will be lodge at court.

Can I extend the timescale before they become binding?  What would be a reasonable time to ask for?

My income comes only from savings and property rental overseas with little very little Aus Income, so it may be very difficult for me to obtain a loan and 6days and counting will not suffice.

I trued to point that out, but it was all a bit of a rush at mediation and was given 90 days from when orders become binding.

M

Just learned from my bank due to Christmas my application decision would be in the 2nd week of January.

That is six weeks.  Is it a reasonable to ask a delay for that timescale before lodging of oders to the court?

If orders are lodged and my application is turned down and I can not arrange a loan then I will not be able to comply with orders.
Newtolaw said
Just learned from my bank due to Christmas my application decision would be in the 2nd week of January.
My understanding from your previous post is that you had 90 days from when the orders become binding. If that is so then as the orders are not yet through the court then you probably have until March.

I am not sure why the bank is saying 'Due to Christmas your application decision will be mid-January' It is only the end of November and most banks can analyse and approve within a few weeks. I would be looking at another bank option. The bigger concern in your case will be proof of income and earnings/employment in Australia with appropriate security. Since the Royal Commission dealing with banks and bank lending criteria has been seriously tightened and has become extremely difficult.

In your meditation you should have set out a range of alternatives should the bank not approve the loan or that the bank has not approved it in a timely manner. As these are orders by consent (I assume) it would have been relatively easy to set that up.
Newtolaw said
If orders are lodged and my application is turned down and I can not arrange a loan then I will not be able to comply with orders.
This is why there should have been some alternative proposals set up in the orders. If the other party is reasonable you may be able to vary the draft consent orders now before they are filed OR after they are filed and in operation, you may be able to seek more time subject to the other side approving that new revised proposal. The worst outcome is there is no funding and as the orders are binding they will execute a remedy to achieve the income. If you are holding property it will be sold.

The circumstances in your post are very sketchy so difficult to give you any real direction other than to say a lender should be able to do better than six weeks to give you an answer. I would suggest unless you meet the strict new criteria for lending you won't get a loan and should be considering what other alternatives there are to satisfy the other side.

Executive Secretary - Shared Parenting Council of Australia
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