Yours does not have to be one of the life-destroying mortgage foreclosures forecast for 2021. The Farm Debt Mediation Act courtesy of NSW MP Hon. Richard Amery gives farmers a fair go.
Receivership & foreclosure following failed mediation can involve farmers in paying stratospheric fees. They are often locked out from their own farms. Forced sale of the family farm often involves sale of livestock bred over a couple of lifetimes, grain, wool and equipment all sold at “fire sale” prices. If they have children there are the really difficult explanations as to why they have to leave their home and perhaps their school. It is hard facing the family and the neighbours as you move out. Then what do you do? No business. No farm. No money. No income. Find somewhere to live. Look around for a job. That may not be so easy at your time of life. You may already be depending on welfare or charity but after loss of the farm it becomes much more likely. Getting started all over if you are past middle age is near impossible. That has not happened to any GBAC client in the past 30 years who did exactly what GBAC suggested.
Bank loan problems sometimes give borrowers who consult GBAC unexpected opportunities to make money. One couple last year made from their bank 30 times what they had invested in GBAC’s loan help services. Many on the land make more money from GBAC’s loan negotiations than from years of farming.
Farm debt mediation gives you a chance to turn the tables on the bank, but only if you are properly prepared and represented. Lawyers are not the solution. GBAC is the solution. It is run by 4th generation farmer, retired Chartered Accountant & CPA, Greg Bloomfield. He converted his Chartered Accountancy firm to banking consultancy when banks were deregulated, with referrals and help from Rural Counsellors in the NSW Central West & from Hon. Richard Amery MP who conceived Farm Debt Mediation.
Turn your debt disaster into triumph. Phone or email us at GBAC for a free chat about getting into a winning position to battle the bank. There is no downside, no obligation.