NPA also known as Non- Performing Assets. It’s too big of a financial concept. First let me ask you something, are you in the middle of a crisis and do you fear that the business has turned into a loss making machine? And you can’t pay anything to anyone? So then you thought of taking out loans and now you can’t repay the principal amount or the interest.
Ladies and gentlemen, yes, you are facing an NPA issue. Investopedia states, “A non-performing asset (NPA) refers to a classification for loans or advances that are in default or in arrears.” In simple terms, an asset is rendered as non-performing when the owner cannot repay the loan taken out for it. Hence why an NPA is placed in the bad limelight.
There is nothing to be ashamed of when you do have an NPA problem. There are solutions and alternatives that help you come out of this situation unscathed. After the wonderful development of the National Company Law Tribunal that was established, the banks became more emphatic towards the entrepreneurs and new regulations were made to find solutions for people facing NPA.
There are solutions like Management Contract Agreements, loan and debt settlements, legal negotiations with your creditors or the banks helping with your extensions and not making you homeless. There are numerous ways to tackle this situation.
And here’s where we come in, Nova Scotia has the perfect set of legal consultants that will help navigate you through this problem. Just because you are late on payments, it does not make you a criminal and that’s what Nova Scotia wants you to remember.
We help you voice your opinions when you feel that no one is hearing you. Having to do all of this alone is maybe what you prefer but Nova Scotia will be beside whenever and with whatever you need. Building your business is what we are here for so if it’s not too late then consider us as your crutch to walk and survive the business world. Nova Scotia is at your disposal.