Mortgage Now is doing its bit in helping to save thousands of Australian Families and Businesses drowning in debt to suppliers and the ATO, Thus avoiding unnecessary legal action and foreclosure.
“As Australia’s largest Exclusively Non-Conforming Broker, Mortgage Now offers a real lifeline to small and medium sized business owners struggling with all types of debt, including tax debt. Mortgage Now will help them regain control of their finances by consolidating all of their business debts into one easy to manage loan, which enables them to settle their outstanding debts (including the tax debt), avoid legal action, and regain control of their finances” said Mr Doessel, Founder and CEO of Mortgage Now.
According to the ATO, tax debts grew 27 per cent in the 2004 – 2005 financial year to $9.6 billion and has been steadily growing ever since. This is largely due to small business operators with quarterly tax liabilities who pay their ongoing business costs in favour of their tax obligations to the ATO.
Mortgage Now’s range of products have been specially sourced to meet the needs of small and medium sized business owners and other self-employed. Borrowers benefit from lowest interest rates available in the non-conforming mortgage market as Mortgage Now has all of the known Australian non-conforming lenders on its panel of lenders.
“Our product offerings enable business owners to consolidate business and personal debts, allowing them to include ATO debt within their overall borrowings, usually with a substantially lower average interest charge which can significantly reduce the monthly interest bill and total outgoings,” said Mr Doessel.
“When debt has begun to spiral out of control and throw in the mix a hint of impending legal action and we have written the recipe for enormous emotional turmoil. This source of emotional stress has been known to lead to family upsets, divorce, and much worse. Thankfully, there is light at the end of the tunnel and consumers and business owners alike can avail themselves of the services of Mortgage Now to ease the burden and overcome these financial hurdles” Mr. Doessel said
“Mortgage Now understands that some business owners that would benefit from financial assistance don’t all meet the traditional requirements of the major lenders. Requirements like a minimum of two years financial history can be overcome quite easily in most cases,” Mr Doessel said.
“Because we have a range of products that will take a variety of income sources into account, the small business owner has the benefit of lower interest rates than those usually offered as a low-doc borrower. Some clients can even refinance their debts to as high as 90% of the property value – allowing them to consolidate all of their personal and business debt into one easy to manage facility,” he said.
Mr Doessel stressed the importance of staying in regular contact with your creditors and the Tax Office, then get good solid advice on your situation and look at ways of getting it all tidied up as quickly as possible.