Who We Help

Creditors

When monies are owed, you're impacted. It's our job to lessen the blow.

Finding out you are owed money and the other party can’t meet that obligation is frustrating and worse still, could impact your business. We look out for creditors who have been impacted by insolvency, positively working through the process to recover what we can, to help you get on with your business.

How we help

Secured & unsecured

We appreciate and feel for creditors when money owed is lost or at risk. We provide creditors, secured and unsecured, with the best and commercially sound path to recovery of funds due.

Young person on the phone, looking at a computer with pen in hand

I have no hesitation in recommending Worrells. I recently had the misfortune to be a creditor in a matter which became increasingly difficult due to several challenging legal issues. Dane and the team at Worrells continued when others would have taken the easy way out.

PETRIA PADELLA

Creditor

FAQs

Some questions you may like answered

What is a creditor?

If you are owed money by a company or person, you are a creditor. A creditor might be owed money for supplying goods or services, or for loaning funds. You can be a creditor when you're an employee and there's unpaid wages or entitlements owing to you.

Who is a secured creditor?

A secured creditor holds a security interest, such as a mortgage, over some or all the company’s assets to secure a debt they are owed by a company. For example, lenders might require a security interest over company assets when they provide a loan.

Who is an unsecured creditor?

An unsecured creditor does not hold a security interest in relation to a debt they’re owed. However, some types of employees take priority in insolvency administrations subject to certain limits and conditions.

What is receivership?

A secured creditor can take action to protect, collect and sell some or all of a company’s assets by appointing a receiver. Go to our receivership page to learn more.

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