Get an Experienced Farm Debt Mediation Lawyer on Your Side
Get an Experienced Farm Debt Mediation Lawyer on Your Side
Farm debt mediation is a structured negotiation process where a neutral and independent mediator assists the farmer and financier to try to reach agreement about current and future debt arrangements. The mediator's role is to facilitate the discussion and they will not provide advice on the matters in dispute. Mediation is a simple, voluntary and confidential process that is designed to be quick, accessible and affordable.
Farm debt mediation under the Queensland Farm Business Debt Mediation Act 2017 may be initiated by the farmer or the financier. While it is typically initiated by the financier, farmers may be proactive and initiate the process themselves if suited to the farmer's circumstances.
Some financier's prefer to mediate informally and outside of the Farm Business Debt Mediation Act 2017. This can be beneficial. That said, mediation is designed to resolve the financier's concerns about the farmer's debt and proper legal advice is recommended to ensure you understand the commitments you may be agreeing to, regardless of whether it is under, or outside of, the legislation.
Banks request mediation for a reason: that is, to resolve their concerns about the debt owed to them. If the request is ignored, there is a process for the bank under the legislation to continue with their enforcement action, which would typically include repossession of any property secured to their loan, without further involvement with the farmer.
It is best to not ignore a request for mediation, and contact me for assistance at the earliest opportunity before your options to resolve your dispute narrow.
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