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Refinancing Expensive Debt

MarkB

MarkB

New Member
Staff member
The vast majority of businesses will at some point need to take on debt to expand or even see them through short term cash flow issues. We are currently in an environment where debt is historical cheap which begs the question, have you considered refinancing debts taken on at relatively high interest rates in the past?

There may be an opportunity to reduce interest payments or even make the same loan repayments and pay down you debts quicker thereby reduce accumulated interest charges.
 
L

lookingforadvice

Member
Verified Member
There are even more options when it comes to cheap funding at the moment with an array of coronavirus funding schemes announced and then we have base rates in the UK currently and 0.1%. If you’re able to lockdown a fixed rate for the full term of your loan and you invest wisely then the potential benefits could be significant.

It is also the perfect time to refinance older more expensive debts.
 
mingstor

mingstor

Member
Verified Member
You are right, saying that every single business from any single domain will reach the point where they will have to take on debts, in order to expand or just to solve some problems. However, the idea is that this debts subject is a bit more complicated from my point of view. Every single business in this world are going to take some debts, most of them, will be obligated to take them from the beginning in order to develop themselves. However, you still have to do it properly, so you will not have any kind of a problem from the legal point of view. That is why every single time I am looking to take some new debts, I am calling for the services of this legal firm https://ndandp.co.uk/commercial-litigation/ , as they are probably one of the best in the world.
 
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