Corporate insolvency
How does insolvency affect your credit score?
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Who We Help
We've got the care, tools and framework to help start the next chapter.
Tough situations need a balance of genuine care matched with an expert understanding of the options available. We’ll listen to your story, then give you the straight talk on the best plan of attack for your unique situation.
Background
We help Individuals who are facing financial difficulties beyond their control, who want a pathway out of the mess and stress, who need hope and opportunities, to gain a fresh start.
Debt affects everyone. From director-related debt, sole trader debt, to consumer debt (loans, credit card debt etc.), we are specialists in a unique sector who deal with bad debts and distressed finances. We have the tools and framework to lead all parties through choppy seas.
the more you’ll have.
FAQs
Bankruptcy is a legal process where a bankruptcy trustee is appointed to administer an insolvent person’s affairs to provide for a fair distribution of that person’s divisible assets to their creditors. Bankruptcy is a legitimate and just way for a debtor to resolve their debt problems, and it is one way for creditors to take action against someone for their unpaid debts.
When a person is made bankrupt, a bankruptcy trustee is appointed to administer the person's bankruptcy estate. The bankruptcy trustee is an appropriately qualified and registered specialist who is either an officer of the court (i.e. a registered bankruptcy trustee) or a public servant (i.e. the Official Receiver).
The Australian Financial Security Authority (AFSA) is the regulator for personal insolvency administrations. Its website maintains a list of people who are registered bankruptcy trustees.
At Worrells we have 17 registered bankruptcy trustees across the country.
Insolvency is defined as being unable to pay debts as and when they fall due.
We speak with people and their advisors every day. We do this as complimentary and without expectation.
Principal, Gold Coast, Northern NSW
Principal, Gold Coast, Northern NSW
Principal, Western Sydney, Central West
Principal, Western Sydney, Central West
Principal, Canberra, Wollongong
Principal, Canberra, Wollongong
Principal, Melbourne, Ringwood
Principal, Melbourne, Ringwood
Principal, Perth
Principal, Perth
Business can be tough
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