Debt can, in many respects be compared to fire: a good servant, but an evil master. Used appropriately, debt enables us to attain financial and lifestyle objectives faster than we would normally be able to do so. When out of control, however, it can destroy even that which was already established.
Adway Financial Services’ debt management solutions are progressive, and cover the entire debt cycle as indicated below:
• Debt Planning
• Debt Management
• Debt Restructuring
When looking to make significant borrowings, it is essential that the necessary considerations be taken in order to ascertain that the debt will be repayable without undue stress. Our service in this regards entails making the appropriate calculations based on your income streams, and the terms of the debt you intend taking. Our approach entails taking a risk-based approach to taking on debt, which ensures that the danger of the debt going out of control is minimized.
Managing debt is a process that starts from the moment you sign the dotted line upon receiving a credit facility. Unfortunately, many do not realize this, and assume that the debt will be repayable “somehow”. Careful debt planning will ensure you sleep peacefully throughout the debt period.
Our debt management solutions entail making a detailed analysis of your debt, and coming up with an optimal solution in terms of how best to liquidate the debt. Debt management is a process which works best (and costs less) when started sooner, rather than later. If there is a chance that your debt will get out of control, we recommend talking to us early in order to plan more effectively on how your debt can be discharged.
The debt management process entails many stages, which include the following:
• Debt counseling
• Developing a monthly plan
• Creditors’ liaison
• Execution of payment plan
Our debt management program ensures debt problems are contained before they become a raging fire.
When the level of debt delinquency has exceeded levels that simply require drawing up a payment plan, debt restructuring takes over. This process entails restructuring debt for which a payment plan was originally in place, but has been defaulted on. We liaise with the affected creditors in order to come up with a new repayment plan that takes into account your changed circumstances. Due to the more complicated nature of this service, we often will require the engagement of third party legal experts to ensure that your assets remain safeguarded.
In consultation with legal experts, Adway Financial Services offers advisory services on the best way to handle insolvent situations in order to minimize damage to the company/business, and to the shareholders/proprietors. More often than not, by the time debt gets to this situation, it is not possible to recover the entity concerned. It is still important, however, to manage this situation properly, as claims against debt can be extended even beyond the business/company, and can end up affecting the individual behind the company. Liability can also extend from being civil to being criminal.