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 negotiations with your creditors
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
- Having your business debt free in 3-5 years
Making life affordable:
- Work out what you can afford to put towards your debts and our fees weekly or fortnightly. Pay your debts off in 3-5 years in repayment plans that are just right for you.
We are here to help you in difficult times, and want to assist you to get a grip on your business, like we helped Mr H.
Case Study: Mr H, cleaning business, $76,560 of debt wiped
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 negotiated with the Bank of Melbourne and investigated the basis that he was provided with 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. Our 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!