Business Debts

Business debts

We are here to help

(For debt over $75,000)

Whether you are trading as a sole trader, through a company or a trust – there are options available to deal with your debt issues.

There are a number of reasons why businesses get themselves into financial difficulty. It can be from poor economic conditions, adverse legal action, ATO debt issues or problems with suppliers. Whether you need assistance in reaching an arrangement with your creditors, help with winding down your business, or assistance with bankruptcy, administration or liquidation, we can guide you through the process.

Navigating the right path can be stressful - call us today to discuss your options.

Business Debt Solutions

  1. Pre-appointment reviews (complimentary)
  2. Deeds of Company Arrangements (DOCA)
  3. Voluntary Administrations
  4. Liquidation – creditors, members and court appointed
  5. Statutory Trusteeships
  6. Receiverships – for secured lenders

Business-debts-piling-up

Business debts piling up

Cash-flow-problems

Cash flow problems

Chased-for-money-by-ATO-suppliers

Being chased for money by the ATO or suppliers

Worried-how-you-pay-staff-suppliers

Worried about how you will pay staff and suppliers

Lost-motivation

Lost the motivation or passion you once had for your business

Uncertain-of-your-options

Uncertain of what your
options are

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What are my options?

Business debt issues can be complicated and there is no one right answer to deal with all business debt issues. The options available to you will change depending on several factors, including:

  • Whether your business is still operating;
  • The structure of the business (sole trader, partnership, company or trust);
  • The level of debts;
  • What assets exist in the business;
  • Whether there are employees involved;
  • Whether there is legal action pending; and
  • The outcome you would like.

There are options available to help you. There are also mechanisms to make sure legal action against your business stops and that employees get paid their outstanding entitlements through a government scheme even if the business does not have the money to pay them.

A number of the common questions we are asked about business insolvency are addressed in our FAQ section, however if you’re struggling with business debt, the best thing to do it to give us a call and let’s confidentially discuss the right solution for your specific situation.


Want some more info? See our FAQ

3 easy steps to debt relief

1.  Speak to one of our friendly consultants at a time convenient to you

2.  Let us find the right solution for you

3.  Start living again!


 promise 

Our promise

There are no limits at Worrells. We are dedicated to helping you at every step of the way to financial freedom. We handle everything for you (all the paperwork!) and you can call us any time to ask a question. We are always happy to answer your call.

Testimonial

 
Call 1300 295 137