Home Foreclosure - Scenario
A supplier was taking action against an owner of a small business to enforce a personal guarantee for a debt owed by the company. The supplier had listed a credit default, which had caused the company’s owner difficulties in getting additional finance from their bank. As the debt was not being paid, the supplier was threatening the appointment of a Trustee in Bankruptcy.
A positive way forward
Corporate Guardian sources a short term loan that enables the company to pay one third of the debt in a lump sum. A suitable plan is negotiated to pay the rest of the debt over a 6 month period. Corporate Guardian holds a watching brief over the company to ensure that the payment schedule is adhered to and that the pressure on the business is removed.
Please note: These scenarios are intended to illustrate the type of problems that our clients experience and the possible remedy. They are not intended to portray real companies or real case studies.
Being taken to court?
Creditors statutory demand?
Can't pay your tax?
Can’t get bank finance?
Director’s penalty notice?
Worried about losing your home?
Other problems not on this list?
Call 1300 788 788