Business debt can come about very easily. A few slow months and all of a sudden the debt is a long way beyond the reach of the company owner. If you have company debts that are out of control then give us a call. At Liquidators-sydney we are business debt specialists. For a completely free consultation call Liquidators Sydneyon 1300 795 575.
If my business is in trouble should I get in touch with a liquidator?
Usually when a business owner finds him or herself in an unworkable financial position they are advised by either their bookkeeper, their solicitor or even their friends to contact a Liquidator and place the company into liquidation. Be very careful about this, we have learned here at Liquidators Sydney that simply because you are paying the liquidator they will look after your best interests and help you to get back on your feet. BUT THIS IS CERTAINLY NOT THE CASE!
Liquidators Sydney are on your side
Although, administrators and receivers are usually nice people, their obligation, once they are appointed, is to your creditors (people you owe money to) and to the courts. They are to collect as much money as possible from the liquidated business to pay off these creditors. That’s it. If for one second you feel they will look after your best interests, you are sadly misguided.
Once you have signed those papers to appoint the Liquidators to your company, that is it! You no longer have any say over the company. The liquidator will do whatever they feel is in the best interests of the creditors and, guess what, in many cases you have just paid for the death of your own business.