The Farm Debt Mediation Scheme makes it compulsory for banks and other creditors to offer mediation to farmers before commencing debt recovery proceedings on farm mortgages.
A farmer has 21 days to respond to an offer to mediate, otherwise the creditor can commence action as normal.
Farm debt mediation is a structured negotiation process where a neutral and independent mediator assists the farmer and the creditor 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 quick, accessible and affordable.
This scheme applies only to:
Guarantors to a farm mortgage need to be fully informed and involved in the process.
Call us on 136 186 and ask for the Farm Debt Mediation Officer.