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Debt Management

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Sage Solicitors appreciate the personal hardships, financial difficulties and loss that householders and businesses can suffer as a result of mounting debt. Your debt levels can make you feel helpless with no-where to go.

We can help you in the areas of:

  •  Personal Debt Management
  •  Business Debt Management

Personal Debt Management

If you have a home loan, car loan, credit card, or personal loan, your ability to meet these repayments may change depending on your changing circumstances.

We can assist you manage your debt by negotiating:

  •  a temporary suspension of your repayments without defaulting on your loans;
  •  a payment plan which you can afford moving forward;
  •  a discount on any outstanding debts which you cannot afford to repay

We can also advise you on the various options available to you under the personal insolvency legislation, such as debt agreements, Part IX Arrangements or even bankruptcy.

We have significant experience in this area of law and have access to trustees who are able to assist you.

Business Debt Management

If you have a business that has suffered financially or has become unviable, we can assist you manage your debt by negotiating:

  •  a temporary suspension of your repayments to creditors without defaulting on your accounts;
  •  a payment plan with your creditors, which you can afford moving forward;
  •  a discount on any outstanding debts which you cannot afford to repay;

We can also advise you on the various options available to you under the Corporations Act such as the restructuring of your business, placing the company in administration whilst your creditors consider a Deed of Company Arrangement (commonly referred to as a DOCA) or even winding up your company.

We have significant experience in this area of law and have access to external insolvency practitioners who are able to assist you.

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