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Warning: session_start(): Session cannot be started after headers have already been sent in /home/gtadebtsoroot02/public_html/wp-content/themes/ashton/header.php on line 11 Business (Division 1) Proposal – gtadebtsolutions.com
A business proposal is an effective tool that you can use to save your business and eliminate business debt. They can only be done by a Licensed Insolvency Trustee (LIT) Its an agreement with the business creditors to restructure the company’s debts. The amount of payment required by the proposal depends on the company’s cash flow. Also, the percentage of debt forgiveness varies. Something important about a business proposal is that it must offer creditors more than what they would receive if the business were to file bankruptcy.
Our licensed and experienced professionals will meet you at no cost to discuss your situation and business debt solutions. So you don’t have to start selling your personal assets or net worth to finance your business.
How do you make a business (Division1) proposal smoother?
In order for our team to provide you with as much assistance as possible, we recommend that you come with a list of your business creditors and the most recent company financial statements.
What is going to be discussed during the initial meeting?
During the initial meeting with GTA Debt Solutions, we will determine if the business is worth saving after examining the business records. This includes the operations of the company, cash flow statements, and financial statements.
When should someone file a business (Division 1) proposal?
A company should file a business proposal when it becomes difficult to pay operating expenses, payroll, and other bills. The sooner the business’s financial standing can be professionally assessed, the greater the business’s chance of survival. The initial reactions of most business owners are to apply for more credit or use personal cash or assets to fund the operations. This action tends not to solve debt problems in the long term.
How are Business (Division 1) Proposal structured?
Since a business proposal has to offer more to creditors than a bankruptcy, this allows a wide range of terms to be considered when making a creative and flexible “deal” with the creditors. Most of (Division 1) are paid over a set period of time or a lump sum.
