Services

We can provide stress free solutions to your DEBT problems

At SRMC Limited, we have helped thousands of Australian’s get their debt under control once and for all. Our #1 aim is to give you peace of mind and a clear plan to get your financial life back on track.

We can help you to:

  • Make an affordable repayment plan
  • Freeze ongoing interest
  • Stop collection & legal actions
  • Protect your assets
  • And most importantly, help you achieve financial freedom

Affordable repayments

 

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Stop legal action

 

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Freeze interest

 

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Protect assets

 

Our services

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2nd Alternative to Bankruptcy

Debt Agreement

A debt agreement is a legal binding undertaking made between a debtor and affected creditors. It is a flexible alternative to bankruptcy that permits the repayment of indebtedness in a manner most suitable to the debtor’s capacity to pay.

2nd Alternative to Bankruptcy

Bankruptcy

Bankruptcy is a legal proceeding involving a person or business that is unable to repay outstanding debts. Consideration should be given to financial matters before filing for bankruptcy to ensure this is the right decision for you or your business.

3rd Alternative to Bankruptcy

Debt Advice

Struggling through debt isn’t easy, and certain isn’t something anyone should do alone. Our team of professionals can provide you with tailored advice and solutions for your situation.

Debt Agreements

A debt agreement is a legal binding undertaking made between a debtor and affected creditors. It is a flexible alternative to bankruptcy that permits the repayment of indebtedness in a manner most suitable to the debtor’s capacity to pay.

The primary objective of debt management is to eliminate unmanageable debt. SMRC provides the expertise and know-how to help you become free of the debt cycle. The Australian Financial Securities Authority regulates debt agreements and also ensures that proposals being submitted comply with a wide range of requirements, including eligibility.

  • All affected creditors must freeze the account
  • Cease ongoing accruing interest
  • All civil actions in respect of the indebtedness must cease
  • Repayment of the debts will be calculated on the basis of capacity to pay
  • One regular payment will be calculated in reduction of the offer
  • Credit reports are annotated upon completion of the obligations to the agreement
  • Only 50%, in value, of affected creditors is needed to make a debt agreement

There are multiple options available to you, and our team will help you understand and select the best options for your specific needs and situation.

  • Settle unsecured debts by compromise
  • Combine unsecured debt into one regular payment
  • Freeze ongoing interest
  • Stop civil court actions and wage garnishes
  • Protect your assets
  • Understand the difference between good and bad debt
  • Achieve Freedom from the debt cycle
  • Create a Budget

Bankruptcy

Bankruptcy is a legal proceeding involving a person or business that is unable to repay outstanding debts. Consideration should be given to financial matters before filing for bankruptcy to ensure this is the right decision for you or your business.

It may not be your only option. Whilst you can become bankrupt voluntarily owing any amount, a creditor cannot make you bankrupt unless the debt you owe is $5,000 or more.

There are various options to deal with your debt situation, and bankruptcy is generally a last resort. It has consequences, and we can work with you to explore all alternatives. We recommended that you seek professional advice and assistance in bankruptcy issues as they can be complex and hard to understand.

Making the Difficult Decision

After seeking and reviewing professional advice, bankruptcy may in fact be your best option and you can voluntarily lodge a petition to start the bankruptcy process. SRMC will work side by side with you, assisting you to take the necessary and proper steps.

Once you have declared bankruptcy:

  • Your unsecured creditors will cease to contact you
  • Most legal action which an unsecured creditor had taken against you will stop
  • Some of your assets can be retained because they are protected property
  • Some may be recovered by your trustee and sold
  • Bankruptcy requires careful consideration and expert advice

Got $6,000+ in unsecured debt?

Find out the options available to you!

Get Your FREE Debt Assessment Today!

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