Borrowers in default on farm loans can shore up their defences with some very effective strategies. 13,000 Australian borrowers are currently said to be at risk of loan default. APRA says it is modelling how safe the banking industry is from recession. Nobody bothers to model how safe our farm borrowers are from foreclosure. That is why we established our GBAC farm debt consultancy years ago for farmers. I have owned family farms running sheep and then cattle. When default first looms, borrowers should act fast to make themselves safe from foreclosure. Farm debt mediation is an option mainly for the bank. It should be strategically prepared for very well as the bank will have ruthless, experienced officers and lawyers on its side of the table. Mediations are more of a last resort. We sit on the farmer's side Refinance is always an option. It can be a very good way of dealing with bank loan or debt problem. We offer a cheap and effective Borrow Better service that helps borrowers get the cheapest and best loan available. It is no good hoping that a broker paid by the bank is going to negotiate the cost and terms of your loan down for you. They are paid to make money for the bank. I am not a fan of restructures like debt consolidation, because that puts “all you eggs into one basket”. If the consolidated debt gets into trouble it can cause a storm rather than a shower. Better to have your debts spread a bit so that you can negotiate with each lender and if one gives you a hard time then it only affects a small part of your total debt. Debt help is always available from www.gbac.au and in my experiences the faster it is sought the sooner the problem is solved.