Rescue Your Business with Debt Management Services
If your business is in debt, it can be very easy to feel completely out of control and powerless. Before long, many people lose hope and presume that bankruptcy – and even liquidation – has become inevitable.
This is almost always not the case, so it’s important to stay focused and get in touch with reputable, reliable debt advisors before you jump to any unpleasant conclusions about your company.
The truth is that there are many options available to businesses who have come upon hard times financially, and it’s always well worth considering each of them carefully with the help and guidance of an expert before you decide what the best course of action is.
Too many businesses end up failing because their owners gave up on them, falsely believing that nothing could be done to save them – but with commitment, along with the help of the right expert who knows the industry like the back of their hand, you can be confident that your business won’t be joining them.
One option that many people dismiss without due consideration is the possibility of reaching a mutually beneficial compromise with their creditors. In fact, this is a very real possibility for most businesses – after all, it is in the creditor’s best interests for their debtor’s business to succeed and not to go bankrupt!
The official process to follow in order to reach a formal compromise with your creditor is known as a Part 10 Debt Agreement, and once it has been arranged, it is a legally binding contract that usually excludes some of your original debt on the understanding that you’ll pay back the rest either as a lump sum or in agreed instalments.
Alternatively, you could choose to voluntarily enter administration, allowing a third party with expert knowledge and official credentials to take over the process of negotiating with creditors and performing the earliest tasks associated with rescuing and rebuilding your business.
With so many options available, there’s no reason to believe that bankruptcy and/or liquidation will ever need to be considered for your business just as long as you get the professional help you need to make it work.
Choose TurnAround Pros as Your Debt Advisors
Here at TurnAround Pros, we’ve been helping business owners rescue and rebuild their companies for many years, and we’ve built an outstanding reputation in the industry for our incredible and enviable success rates. You can be sure we’ve worked with companies in far worse financial situations than yours, so there’s no excuse for giving up yet!
When you choose to use our debt management services, you’ll gain access to a dedicated professional who will work closely with you to gain an understanding of your current situation. Then, they’ll offer you their impartial, honest advice about what your best course of action is. With their help and guidance, you can be sure that you’ll steer your company away from the brink of bankruptcy.
Contact us today to arrange a free consultation, and before long your business will be well on the road to financial recovery!
TurnAround Pros are Queensland’s best professionals for financial distress. If your business is becoming insolvent or you are facing bankruptcy, you are not alone. Work with debt advisors who will help you find alternatives to bankruptcy. Visit our website or call us on 1300 518 070 to learn more.