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The purpose of Debt Protection is to repay external debt e.g. loans, overdrafts, leases, hire purchases, creditors etc.
It can also provide cash to repay internal debt e.g. shareholders advances and current accounts.
The outcomes of Debt Protection is
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it reduces the risk of company/personal insolvency
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it meets obligations under the Companies Act
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it reduces the loss of personal wealth
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it protects estate values.
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