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All Press Releases for February 15, 2013 »
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Fox Symes Providing Australians with Alternatives to Bankruptcy

An increasing amount of Australians are filing for bankruptcy during tough financial times. This is largely do to job cuts and increases in cost of living. During these times, Fox Symes are providing many people with alternatives to bankruptcy.
 
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    SYDNEY, AUSTRALIA, February 15, 2013 /24-7PressRelease/ -- Is your debt getting out of control? This is one of the first questions initiated in a free consultation with Fox Symes. The professional debt solutions services help over 100,000 Australians each year manage and overcome their increased debt difficulties. An increasing amount of Australians filing for bankruptcy has generated concern for everyday residents as interest rates increase, job redundancies arise and other unexpected events occur that cause immense concern and stress within Australian households.

Fox Symes urges Australians to result in filing bankruptcy as a last resort. The consequences for filing bankruptcy are quite substantial and Australian residents must understand the extremities involved concluding this decision. There are various options to deal with uncontrollable debts. Discussing your situation with Fox Symes will establish suitable alternatives and prompt people to making the best possible decision, achieving the most beneficial outcomes.

Debt Consolidation Loan
Fox Symes provides advice on debt consolidation loans to everyday Australians. In some instances it is a more convenient way to manage debts, opposed to handling numerous accounts with multiple lending institutions. The positive outcome from a consolidated loan may result in a lower monthly interest rate, ultimately allowing customers to save thousands of dollars in excess repayments. If a recipient is denied a debt consolidation loan through any authorised institutions, Fox Symes may provide other alternative solutions to help consolidate debt.

Debt Arrangement
A debt arrangement may also be a suitable alternative. This process introduces an agreement upon a negotiated compromise with creditors that becomes legally binding. Some proposals may include a reduced amount of monthly repayments, a moratorium on payment of debts, a transfer of personal property to creditors or periodic payments of amounts of income. In order to be successful for debt arrangement, Australians must never had filed bankruptcy or utilised another prior debt agreement with creditors. Australians should be aware that submitting a debt agreement is not the same as bankruptcy, however it is a commitment of 'an act of bankruptcy'. There will be penalties although not as severe.

Mortgage Refinance
One of the largest concerns for Australians is their mortgage. A possible solution to managing debts is refinancing an existing mortgage or home loan. This strategy utilises the equity available in current assets to repay other high interest debts. In short, it is a process of applying for a new loan on current assets and using this new loan to pay out your mortgage and other debts people may have. This may also allow people to package their current monthly repayments from all debts into one convenient payment. This will result in paying a smaller amount each month. A mortgage refinance may be available to Australians who meet specific requirements.

By speaking with Fox Symes, Australians have avoided the extremity of filing bankruptcy through the advice and services provided. With more and more customers on a monthly basis, Fox Symes is contributing to solving many Australians debt concerns through alternative solutions.

Website: http://christopherlee.com.au



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