Division 1 Proposal
A formal proposal to your creditors to reduce your debt burden and keep your business operating
For corporations and individuals with more than $250,000 of debt
Our team of trusted advisors can prepare and file a Division 1 Proposal to keep your business operating and avoid bankruptcy.
Don't ignore the warning signs
If your business is facing financial difficulties and is unable to meet its debt payments, you may be able to get a reprieve by filing a Division 1 Proposal— a formal legal way of asking your creditors to accept repayment of only a certain percentage of the debts and/or give you more time to pay.
The key to the success of a Division 1 proposal is timing. Don't wait until legal action is initiated by creditors as it may be too late to negotiate a new agreement. Contact Devletian & Associates TODAY and we will help you assess your options.
Our corporate reorganization advisors are Licensed Insolvency Trustees and have helped countless businesses regain financial footing.
We manage the whole process for you
- Draft the terms of the proposal
- Advise you on the tax implications of forgiveness debt
- Negotiate with your lenders and suppliers
- Prepare cash flows for the going forward operations
…my loans started becoming more and more difficult to pay each month after hitting a rough patch with my business. I wanted to keep my business afloat but didn't know how. Devletian helped me assess my options and find a solution to reduce my debts and keep my business running. Thank you for the great guidance!"