person holding brown leather bifold wallet

DEBT MANAGEMENT INSIGHTS – STEPS TO HELP DEAL WITH YOUR CREDITORS

We are aware that growing debt to creditors, banks and the ATO can cause significant financial and emotional stress for our clients. Fortunately there are rules to help you get back on track. We are talking to the experts and it may be the right time to take action.

HERE’S WHAT YOU NEED TO KNOW

If you are struggling, you may be interested in some regulations that came in to effect in January last year known as the Small Business Restructure.  The measures can provide a path for businesses to implement a plan to negotiate the repayment of debts with creditors and potentially clear the slate, all while the directors remain in control of the business operations.  The important point to note is that your major creditors (including the ATO), MAY agree to terms which mean that they can accept less than the full liability owing.

With the support of some of the industry leaders in this field we are helping our clients to navigate the new rules to work a path to get back on track.

If you are feeling the pressure, please call the office to arrange a call with Brett on 07 5439 0188 or at [email protected] if you need any assistance.

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