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If you have debt finance for your business and you are finding it difficult to repay the debt we can help by:

Understanding your situation:

  • Assessing your current debt position – what you are paying now – what you can afford to pay

Taking the pressure off:

  • Taking over and paying your debts on your behalf

Improving your financial position:

  • Working with your creditors to freeze or reduce your interest
  • Working with your creditors to set up hardship variations on your contracts
  • Working with your creditors to reduce your debt
  • Avoiding insolvency and its consequences
  • Improving your credit score
  • Having your business debt free in 3-5 years

Making life affordable:

  • Dividing all of your debts over a 3-5 year time period and factor our fees into an affordable weekly or fortnightly repayment plan that’s just right for you.

We are here to help you in these trying times and want to help you get a grip on your business, like we helped Mr H.

Case Study: Mr H, cleaning business, $76,560 of debt wiped

We are here to help you in these trying times and want to help you get a grip on your business, like we helped Mr H.

Mr H had a cleaning business. He decided to take out a commercial loan from the Bank of Melbourne so he could expand his business.
Three years later he took out a further loan to prop up his business which was struggling..  
Soon after, Mr H was finding it hard to pay off these debts.

He tried to negotiate directly with the Bank of Melbourne and pay lower amounts to keep his head above water but the Bank of Melbourne were calling constantly and things weren’t improving. He was only paying interest and the principal remained the same.

Mr H contacted us and our assessment team looked at his situation. We took over his debts and the advocacy team contacted the Bank of Melbourne and looked into the basis of the loans. Based on that investigation we asked the Bank of Melbourne to significantly reduce Mr H’s debt. They agreed to reduce the debts by a total of $7,250 immediately. The advocacy team also set up an affordable payment plan of $270 per month so that Mr H could comfortably pay off the remaining debt in full.

Mr H also had various other debts totalling $94,000 that we negotiated in a similar way. Overall, we had a total of $130,650 worth of debt reduced to $54,090.

Once all the debts are paid, Mr H will be in a much better position to take advantage of any opportunities that arise at the end of this period.  

If you are in a similar position to Mr H please contact our assessment team today on 1300 070 672 or email help@solvemydebtnow.com.au for confidential support and advice.

We Can Help You – Today

Book your FREE Consultation now and talk to one of our qualified SMDN Advocates that will help put you back on the road to financial freedom!