We Know How To Overcome Creditors Hardball
Are your hard earned assets at risk of being sold from underneath you? Do you need a little bit more time to allow your proactivity to reach fulfillment, through a sale which will result in a better return to the secured creditor?
Jamie had already placed his company into Liquidation when we met him. His company had debts totalling approx. $150,000. To assist with paying off this debt, Jamie had signed a personal guarantee for a $70,000 company loan. This provided the lender with an equitable interest caveat over 3 of Jamie’s personally owned properties. An equitable caveat allows the lender to sell any or all of the properties without notice to the owner (in this case Jamie).
One of these properties was Jamie’s home.
Just 4 weeks before settlement, Jamie’s conveyancer advised him that the family home had been sold by the lender to a property developer. Jamie had no idea his home was on the market. There wasn’t a “For Sale” sign or any open homes. He truly didn’t understand how it had happened … but it had.
It was devasting news to tell his wife. They both felt numb and totally overwhelmed by the entire situation. Then a friend of Jamie’s suggested he contact us.
After talking with Jamie and assessing his situation, we got in touch with the lender. We outlined the dire financial position Jamie was in and why it wasn’t in the lender’s best interests to pursue the company’s debt through the Courts. We also showed them why a lump sum settlement offer would be in everyone’s interests.
It took a lot of negotiation but eventually the lender agreed to accepting a lump sum settlement of $37,500 which represented a 46% saving to Jamie. In addition, we arranged for the lender to attend settlement of the property to receive their payment in exchange for the equitable interest caveat to be removed from Jamie’s property. That meant Jamie didn’t need to obtain bridging finance to pay the lender the agreed lump sum prior to settlement.
What makes LemonAide different to liquidators?
The difference between LemonAide and a liquidator is that we look after your best interests – not your creditors’ interests. That can make an enormous difference to your outcome, your stress levels and how quickly you can begin enjoying life again. Importantly, we act ethically and legally on your behalf.
In Jamie’s situation, he and his wife still lost their family home but they were able to begin rebuilding their lives without the fear and stress of financial troubles.
Can you identify with elements of this case study? If so, book an appointment with us. For a small investment of $795 plus GST we’ll look at your individual situation to find ways to work with creditors who have obtained your personal guarantee. Better still, contact us before you agree to anything because our job is to look after you!
After that first meeting, if you then choose to work with us to implement the strategy we develop for you, your initial investment with us will be credited back to you throughout the process.
It all means you have nothing to lose and a lot to gain so get in touch with us today.
