If you are a resident of Victoria who is struggling with financial challenges, you will find well-known insolvency or bankruptcy trustees that can come to your aid. They are staffed with experts who are able to comprehensively assess your financial situation and present you with the most suitable solutions. Whether you are in need of debt consolidation in Victoria, or are simply looking for insolvency experts to help you draft a consumer proposal in Victoria, bankruptcy trustees can help. They have expertise in:
1. Consumer Proposals
Being one of the best alternatives to bankruptcy, a consumer proposal is a viable formal arrangement with creditors that allows you to pay less than what you actually owe them. One of the greatest advantages of this option is that once it comes into effect, all of your unsecured creditors will be stopped from making any collection efforts, while you are also not required to make any further payments to them. On the contrary, you will be required to make your payments to the bankruptcy trustee, who will distribute the funds to your creditors. If you want to draft a consumer proposal in Victoria, these experts can help.
2. Debt ConsolidationÂ
If you want to reduce your debt and stop paying huge interest rates on your loans, these firms can help. They can help you acquire a debt consolidation loan from the bank. This is a special type of loan, which combines your small loan into one large loan with just one monthly payment to be made to the lender. Note that this option will not discharge all of your debts, but will leave you with a new low-interest rate loan to pay. If you need help with your debt consolidation in Victoria, these professionals can help.
3. Business Reorganization and Viability Reports
Whether your company is experiencing cash-flow problems or a secured lender needs to know the value of your secured assets, these firms can provide you with reliable consultation services to suit your needs. Acting as consultants, these experts are able to investigate and provide you with reports on whether your company is viable or requires some reorganization. Some of the reports they can provide you with include:
a) Current evaluation of the company or business operations.
b) An assessment of options.
c) Cash-flow forecasts and budgets.
d) Recommendations of refinancing, closing of unprofitable outlets, and sale of redundant assets.
These firms also have experience in personal and corporate bankruptcy, corporate proposals, and much more. Moreover, they are staffed with insolvency experts who will analyze your financial situation and provide you with personalized service. They are able to help you get out of debt, regain financial stability and even improve your credit rating.