Are you facing financial hardship due to a failed Agribusiness scheme?
We can help get your debt back under control with an Agribusiness Arrangement
Did You Invest in an Agribusiness Managed Investment Scheme (MIS)?
Many investors in Agribusiness MIS’s are now facing a debt crisis due to the collapse of the schemes and the high up-front costs involved. Even now, over 10 years after Timbercorp and Great Southern brought in liquidators, debt collectors are still hounding investors to pay the maintenance on their loans. A list of failed schemes can be found on the Australian Taxation Office (ATO) website, which includes:
- Timbercorp – forestry, olives and almonds,
- Great Southern – forestry,
- Gunns – forestry,
- Environinvest’s – tomato,
- Paladri Wines,
- Arafura Pearls,
- Australian Bight Abalone,
- Forestry Enterprises Australia,
- Rewards Group – citrus, berries and tropical fruit,
- Wollmott Pine Forests Ltd, and
- Coonawarra Wines.
If you’re facing financial hardship due to a failed Agribusiness loan scheme, Debt Rescue can assist.
What are the Benefits of Engaging Debt Rescue?
Our overall aim is to reduce your unmanageable debt and put an action plan in place so you can regain control of your financial situation. To do this, we assess your circumstances and implement a Debt Management Plan (DMP). Our DMP is exclusive to Debt Rescue and is designed to help reduce your overall outstanding debt amounts by combining them into one affordable repayment schedule based on your budget.
What are Agribusiness Managed Investment Schemes?
Agribusiness MIS were developed to finance agricultural operations in Australia. They allowed small investors to invest in large-scale agricultural operations and encouraged agricultural diversification. Agribusiness MIS were an attractive tax deduction for some investors as large upfront costs attracted significant tax deductions, with some investors borrowing up to 90 per cent of the value of their investments.
The failure of agribusiness MIS caused significant damage to investors, farmers, neighbouring communities and the reputation of the agribusiness MIS. Investors and taxpayers lost $4 billion in the collapse of these schemes, due to high upfront costs, poor management decisions regarding the planting and location of the schemes, a business structure that was too heavily dependent on new sales for cash flow and the amount of time between initial investment and the release of dividends.
3 Easy Steps to Get Your Debt Back Under Control
Get in Touch
Get in touch with us at Debt Rescue and we’ll assess your financial situation and get started with your tailored Debt Management Plan.
Negotiate with Creditors
We do all the heavy lifting and negotiate with creditors on your behalf. We will negotiate a lower interest rate, lower minimum repayment and longer term agreement.
Once your creditors are happy with the new loan repayment terms, you will soon be back in control of your finances.
Still looking to get your head around how we can help with an agribusiness MIS? Get in touch with us today and we'll talk you through the process and what's involved
Need help with an Agribusiness MIS?
At Debt Rescue, we’re here to help you take control of your debt. We only recommend trusted lenders who can assist in your particular circumstances. Helping you achieve a debt- and stress-free life is our number one priority.
For a free chat about your financial situation, chat to one of our Case Managers today.