Other Debt SolutionsBusiness Insolvency
Other Debt Solutions
Santoro & Co will help you find the most appropriate solution to manage and pay off your debts and avoid possible bankruptcy or a bad credit rating. We understand every situation is different and that is why our experienced advisors take the time to consult with to fully understand your circumstance and the available options.
In some cases filing for bankruptcy or setting up a Part 9 debt agreement may not apply to and so other debt solutions may need to be investigated. Our team of advisors are up to date on best practices and will help you find the most appropriate solution to your problem. These can include:
Informal Agreement
This is a debt agreement that you reach with your creditors in order to rework the terms of the payment. This is usually the simplest solution to your problem and is used when the outstanding amount is small.
You might get your creditor to freeze interest payments for a fixed amount of time or to even extend the time within which you have to pay the entire amount. Some creditors might even be accept a lesser amount if you can pay it off immediately. We will help you negotiate with your creditors so that you get the best possible terms.
Personal Loans for Paying off Debts
If the amount that you have to pay off is relatively small, you can apply for an unsecured personal loan to help you pay off the amount. These loans are usually available at a high rate of interest but you can use them to pay off your debt and improve your credit rating
Budgeting
A problem prevented is a problem solved. Debt problems can be reduced by proper planning of finances. This involves setting up a personal or family budget. The budget is an easy and very effective tool to help manage debt problems and to prevent from getting into deeper problems. At Santoro & Co we can develop a budget with you and help you get on the right track.
Santoro & Co's expert business advisers and accountants can also help you in drafting effective business and personal plans and provide assistance in matters of business development.
