We’re here to help

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

With extensive experience helping businesses and individuals navigate these difficult times, Worrells is here to help you assess your options, and guide you through the process.

To talk to one of our understanding team members, call us today for a confidential chat.

Over 48 years’ experience dealing with individuals & businesses in financial distress

32 offices spread all around Australia

Plain Talk, Straight Answers & Fast Results

What are the signs I need help?

Many causes can get businesses into financial difficulty. They include poor economic conditions, adverse legal action, ATO debt issues or problems with suppliers.

You may need a helping hand to reach an arrangement with your creditors, or a more formal insolvency process to rehabilitate the business through a small business restructure, a voluntary administration or wind up your business through a liquidation process.

Call us today on 1300 959 557 for confidential help.

What comes next?

You may need a helping hand to reach an arrangement with your creditors, or a more formal insolvency process to rehabilitate the business. Regardless of the type of business or type of debt issues—we can guide you through the process.

We’re here to help with a free, no-obligation chat.

 

Why Worrells?

We’ve been around the block, specialising in insolvency since 1973. We help all types of people and businesses in all types of financial distress across Australia.

To find the right solution for you, give us a call on 1300 959 557 to confidentially discuss your situation. We take the jargon out of what can be a complex process and offer a supportive environment during difficult times. We use Plain Talk, we give Straight Answers, and we deliver Fast Results. This means you get the right advice, that makes sense to you. 

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3 easy steps to debt relief

We’re here to help you find the best solution to your debt problems

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

We are experts in:

  • Insolvency
  • Small business restructuring
  • Voluntary Administration
  • Turnaround Management
  • Liquidation (Simplified/Standard)
  • Director Penalty Notices
  • Statutory Demands
  • Personal Insolvency Agreements
  • Bankruptcy

Book a free, no-obligation chat now

In our experience, no amount of FAQs and reading will substitute what can be gained by discussing your unique situation with a qualified professional.

We’ll guide you from start to finish

We are focused locally and resourced nationally with 32 offices across Australia so you’ll deal with a local expert who guides you through the process from start to finish.

Eliminate the hurdles of uncertainty with qualified, expert advice from the team that cares.

What are my options?

Business debt issues can be complicated. Several factors influence the options available to you, including:

  • If the business is still trading.
  • The business structure (sole trader, partnership, company, or trust).
  • The amount of debt.
  • The business assets’ value and any securities attached.
  • Any employees and their outstanding entitlements.
  • If legal action is pending.
  • The outcome you want.

We’ll help find the best option for your circumstances.

As insolvency professionals, we have a toolkit that others don’t that ensures legal action against your business stops and to pay employees their outstanding entitlements through a government scheme when the business doesn’t have the assets/funds to pay them.

More questions?

It’s natural to have lots of questions, concerns or simply needing a chat about your situation. Our FAQs may answer some of them, but chatting confidentially with us is better.

Book a free, no-obligation chat now

In our experience, no amount of FAQs and reading will substitute what can be gained by discussing your unique situation with a qualified professional.

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My experience working with Worrells has been nothing short of amazing. I found myself in a hole after some poor decisions in the financial markets led to a large unpaid loan hanging over my head for years. I was extremely stressed out and struggling to pay the interest on this loan while also keeping a roof over my head.

From the moment Worrells answered my call they have made my life a lot easier. I could tell that from the beginning they were empathetic to my situation and that they genuinely wanted to help. We had an open and honest conversation to devise a plan so that I could move forward, debt free.

What really sets Worrells apart is the follow-up work—checking in on how things are going and always happy to answer any questions on the intricacies and legalities of insolvency with an infectious upbeat attitude.”

~ Deklan Gilmartin

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Our promise

Now’s the time to have someone in your corner—an insolvency professional who provides clarity amongst the murkiness of insolvency, stress and indecision.

We are dedicated to helping you at every step of the way to financial freedom, and we are always happy to answer your call

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Don’t live with the financial burden any longer

 

Our specialised consultants can find solutions to all types of debt problems. We can help you consolidate your payments, save thousands in interest and reduce your debt. Your debt problem can be fixed!

 

Call us today on 1300 959 557 or complete the form

FAQs

Your questions on Corporate Insolvency Answered

What is liquidation?

A liquidation can occur voluntarily (by a decision of the directors and shareholders) or through a court order. Voluntary liquidation occurs when the business owners determine that the company can no longer satisfy its debts and is insolvent, or likely to become insolvent. It allows for an orderly realisation of the company’s assets, investigations into the company’s failure, and distribution of the company’s assets among its creditors.

What is voluntary administration?

Voluntary administration allows businesses to address insolvency issues, and if possible, return it to healthy trading position. This is usually available to directors who are proactive when they see their company is in financial trouble. The voluntary administration process ensures that the business, the company’s assets and affairs are administered in a way that (among other things) maximises the chances of a business continuing to exist by a voluntary administrator taking control as if they are the company directors. The administration process takes place over an interim period, usually lasting between 20 and 30 business days.

Can I apply for liquidation voluntarily?

Yes, if you are trading through a company and are the director and shareholder. Call us today to discuss the process.

What if I’m a sole trader?

Liquidation and voluntary administration are for businesses trading through a company structure (incorporated companies and trust structures). If you are trading as a sole trader and have financial issues in the business, then your debts can be dealt with through bankruptcy or other debt solutions mechanism. Go to our or bankruptcy page to learn more.

What happens to my employees if my business is wound up?

Employee entitlements (including wages, superannuation, leave, and termination amounts, etc.) are treated as a priority dividend—as a priority creditor in the insolvency appointment—under the Corporations Act 2001 and Bankruptcy Act 1966 ahead of other types of creditor claims.

The federal government has a scheme to protect some employee entitlements in the event of a company being placed into liquidation—known as the Fair Entitlements Guarantee scheme (FEG). This scheme’s funding assists to satisfy and pay outstanding wages, leave entitlements, and termination amounts (subject to some limits) that employees are owed when the business cannot afford to pay these debts. Call us to find out more.

Can I still trade my business if I am solvent?

Directors must be aware of “insolvent trading” laws that can have substantial penalties or implications. If your business is insolvent, it is best to touch base with Worrells to discuss what can be done legally to save your business and to understand what your rights and obligations are.
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