Macleay Valley Business Chamber

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Kempsey NSW

Mind Your Money; Credit Ratings & the PPSR

The June Macleay Valley Business Breakfast was all about minding your money.

Our fabulous speakers gave us a lot to think about when it comes to understanding how to protect your financial interests.

Victoria Coster of Credit Fix Solutions gave an in depth review to help us understand our credit rating and how this can impact your ability to get finance and the interest rate you may be offered. Maybe you have a mark against your credit history which has reduced your rating – in that case try giving Credit Fix Solutions a go – they don’t cherge if they cannot improve your rating: Victoria’s top tips to improve your credit rating are simple but important:

  1. Make your payments on time – set up direct debits to ensure you don’t run late on a payment.
  2. Protect your personal information.

Our second speaker Natalie Mitchell of Capital Finance Solutions ran through complex content, covering the Personal Property Secuirty Register. In basic terms businesses can protect their interests by registering goods, equipment or the value of these or services delivered. In the case the other entity becomes insolvent you will be registered as their creditor and be in line to claim for what is owed.

Natalie also highlighted new legislation that in simple terms permits entities to “trade out of” insolvency. There are a number of requirements and the entity must be working with an approved financial service to complete an approved plan. Be sure to call Natalie if you require more information:

Thank you to all that joined us on the morning and we look forward to seeing you all at the next Chamber function.