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Liquidators Gympie

Company debt can come about incredibly quickly. A few slow months and all of a sudden the debt is generally a long way beyond the grasp of the company owner. If you have company debts which are actually out of control then give us a call. At Liquidators Gympie  our company are business debt professionals. For a completely free of charge consultation call Liquidators Gympie on 1300 818 575.

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Bankruptcy Gympie,Bankruptcy Notice Gympie,Bankruptcy Help Gympie

If my business is in trouble should I get in touch with a liquidator?

In most cases when a business owner finds himself or herself in an unworkable financial position they are advised by their bookkeeper, their solicitor and even their friends to contact a Liquidator and place the business into liquidation. Be rather careful about this. We have gotten to know, here at Liquidators Gympie, that many individuals believe that simply because you are paying the liquidator they will look after your best interests and serve to help you to get you back on your feet. BUT THIS IS REALLY NOT THE CASE!

Liquidators Gympie is on your side

Although administrators and receivers are usually nice people, their responsibility, once they are appointed, is simply to your creditors (people you owe money to) and even to the courts. They are to gather as much money as possible from the liquidated business to pay these creditors. That is simply it. If, for one instant, you feel they will look after your best interests, you are sadly mistaken.

Once you have actually signed those forms to appoint liquidators to your company; that is it! You no longer have any say over your business. The liquidator will do whatever they feel is in the best interests of the creditors and, guess what, in most cases you have certainly just shelled out for the death of your own business.

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Bankruptcy Gympie,Bankruptcy Notice Gympie,Bankruptcy Help Gympie

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One Businessmen’s Story

I realized I was in strife when the bank refused to lend me any more against the farm. This home has been in the family for years and the idea of having to give it up was way too much. I called my financial advisor and my bookkeeper, and they both urged me to go and see Liquidators Gympie which I didn’t do, of course. I found this other liquidation company and they said that’s the only way out. I realized I had significant debt, but it just looked like I had no alternative. My accountant said that since I am shelling out for the liquidator and that it was going to be a voluntary liquidation that I would certainly be looked after. WRONG!

I found some Liquidators, they seemed professional and qualified and they claimed they would help me as much as they could to overcome my money issues. I had no idea what was going to happen. They seemed to comprehend my circumstance; I had some cash coming in and a sale of some machinery going through.

The moment I signed the documents the liquidators asked for the keys and that was it. Everything was taken out of my hands, the sale of the equipment was totally taken control of, the money I had coming in was gone, they took control of each and every single thing; it was simply all gone. The next day my savings account was frozen and what I thought was reallying going to be a beneficial situation ended up being my worst nightmare. I lost everything!

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Bankruptcy Gympie,Bankruptcy Notice Gympie,Bankruptcy Help Gympie

What is the leading strategy if my business is in difficulty?

There is a trick to managing this situation: PREPARATION. There is quite a lot you can do to ready yourself; before you relinquish the control of your business call Liquidators Gympie and we will really help you walk through the minefield which it can be. In fact, a lot of the stress and anxiety can be dealt with in such a way that will work for you, not against you. This sounds easy but, in fact, there is an substantial amount of law and many rules in place surrounding this process so getting the correct advice from Liquidators Gympie is always a dependable option. If you are not sure what you need to do and just need some guidance, simply call us on 1300 818 575. Liquidators Gympie are experts in pre-liquidation strategies.

What if another person is winding up my business?

If someone else is winding up your company, like the ATO or a creditor, they are going to have a liquidator appointed from the courts. You do have some options right here and certainly there is a lot you must know and do to protect yourself – feel free to call us for a free consultation here at Liquidators Gympie. The key here is to get some guidance and include us as quickly as you can in this particular process. It is that easy. Normally you will get a notice in the mail or a court order, and if you have one of these contact us simply because the longer you ignore this the less alternatives you have. Call us at 1300 818 575.

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Bankruptcy Gympie,Bankruptcy Notice Gympie,Bankruptcy Help Gympie

Can I keep running a business if I have been a director of a company that has been liquidated?

Yes, you can continue to run a company. No, you can not continue to be the director of the company that has been liquidated. This is one of the most frequent questions we are asked. Obviously, there are policies that have to be stuck to, and you must ensure you structure things in the right way moving forward. Liquidation does not will need to be the end of your business life, as a lot of people think it does. We can really help you to do this and restore a new life after liquidation. There are choices, but in most cases people just don’t know just what they are. At Liquidators Gympie, we can discuss your options and help you accomplish your goals.

What do I should do?

Be prepared. Liquidators don’t work for you, no matter how much money you pay them. Your creditors don’t work for you, no matter just how much of their bill you pay them. Your friends love you, but typically have no thought to what they are often recommending to you. They’ve probably heard that if you wish to begin again you should throw away the company through a liquidator and it is an convenient assumption to make that if you pay a liquidator they will help you. Understand – THIS IS NOT THE CASE! WE WORK FOR YOU– no one else does. You are our client and we are only interested in getting the result you want. For a free assessment call Liquidators Gympie 1300 818 575.

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Bankruptcy Gympie,Bankruptcy Notice Gympie,Bankruptcy Help Gympie

What do we do?

At Liquidators Gympie we help you work through your choices. We than help you take the suitable action. Then we work toward getting the best possible outcome for you and protecting whatever we can. We connect properly with your creditors and resolve the situation. Call us now at Liquidators Gympie on 1300 818 575.

What happens if I have an ATO Debt?

If you have an ATO debt, don’t disregard your mail! The ATO will often issue companies Wind-Up Notices or Statutory Demands, or even a Director’s Penalty Notice on you or your company. If this has happened, you must act fast! Sometimes communication is all that’s needed, sometimes winding up the company is the answer and sometimes negotiation is required. Whatever is needed, we will certainly help you work through a plan and we will support you the whole way.

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Bankruptcy Gympie,Bankruptcy Notice Gympie,Bankruptcy Help Gympie

What if I have gotten a notice from the Tax Office?

If you have already gotten one of these warnings YOU MUST NOT LET THEM LAPSE. Contact us as early as you get them and we will be able to help you work through the steps readily available to get the best and most favourable outcome for you. As soon as we have done an assessment of the business and the circumstances we recommend an action plan. Then it is your choice whether you go on from there. Call Liquidators Gympie today for a free consultation on 1300 818 575.

ATO – DIRECTOR’S PENALTY NOTICE

Directors Be Warned

What is extremely important is that every single business owner understands these changes and the harmful nature of them and how they will certainly impact you and your business. If you have a tax debt then you may be likely issued with a Director Penalty Notice by the ATO.

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Bankruptcy Gympie,Bankruptcy Notice Gympie,Bankruptcy Help Gympie

What does it actually mean if I have a Director’s Penalty Notice?

The purpose of a Director Penalty Notice is to get directors accountable for their business’s unpaid tax debt. As a director, you will not have the ability to avoid personal liability for a PAYG ATO debt, which has a Director Penalty Notice, if the following applies:

  1. Your financial debt is older than 3 months and or your debt was not revealed to the ATO inside 3 months of the due date.
  2. As a director, you might likewise be responsible for your company’s unpaid superannuation liability when you have a penalty.
  3. Directors, and associates of directors, could now also be liable for a new personal income tax liability. This is going to make directors and their associates actually liable for a business’s unpaid PAYG withholding liability.

So do I have any choices?

Yes. If your company has an ATO debt or you have received a Director’s Penalty Notice, it is crucial that you ask for expert advice, as we have numerous options you may have to think about. Simply call liquidators Gympie on 1300 818 575.

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Bankruptcy Gympie,Bankruptcy Notice Gympie,Bankruptcy Help Gympie

What if I ignore the notice?

There may be considerable repercussions for not abiding by the ATO’s notice; this can include things like losing personal assets like cars, property or shares, and personal bankruptcy for the company’s debts.

STATUTORY DEMANDS

Just what is a Statutory Demand?

A Statutory Demand is a demand produced under 459E of the Corporations Act. This legal document is not issued by the Court. A Statutory Demand needs that the Debtor Company pay out a defined sum of money within 21 days from the date of the delivery of the demand on the Debtor Company.

If the debt is objected to, or if there are exceptions in the document, the company should promptly get separate legal advice and apply to the Court to set the demand aside on the grounds that the debt, then the subject of the Statutory Demand is in fact contested. This application MUST be made within 21 days.

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Bankruptcy Gympie,Bankruptcy Notice Gympie,Bankruptcy Help Gympie

What if the Statutory Demand expires unsatisfied?

Section 95( A) of the Corporations Act stipulates that a company is solvent if it has the capacity to pay its debts as and also when they are due. Accordingly, the test as to whether a business is insolvent is that it is unable to pay its debts as and when they are generally due.

Under Section 459C of the Act, the company is presumed to be insolvent if a company has actually failed to comply with a Statutory Demand. Then, the delivery to a Debtor Company and non-compliance with the Statutory Demand will offer ‘proof’, which is actually sufficient for a creditor to apply to the Court for the appointment of a liquidator to the business.

Can the Statutory Demand just turn up in the post?

Yes, it might be supplied face-to-face or simply appear in the mail as registered mail.

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WINDING UP NOTICE

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Exactly what is a Wind-Up Notice?

A wind-up notice typically follows a Statutory Demand. If a company is unable to pay its debts then the Court has the power to wind it up and appoint a liquidator whose duty it is to change the assets into cash and disburse the cash in the order started in the Corporations Act. In short, this notice is basically a letter notifying you that on a certain date a liquidator will be appointed by the courts to take control of your company if you won’t pay the debt.

Who can send me a Wind-Up Notice?

The creditor who acquires the appointment of the liquidator and the liquidator take priority in regard to their costs, as do specific employee entitlements. The remainder is distributed evenly between unsecured creditors.

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Bankruptcy Gympie,Bankruptcy Notice Gympie,Bankruptcy Help Gympie

Will I be actually obligated for my businesses debt?

No. The liquidation of a company does not instantly imply the director will be generally made bankrupt; however, the method of winding up a company resembles the process of having a person declared bankrupt. Having said that, the ATO can release a Director’s Penalty Notice whenever, so it is definitely ideal to take action quickly. For a no charge consultation call Liquidators Gympie on 1300 818 575.

What happens in the event that I can not pay the debt within the 21 Days?

A liquidator will be actually appointed and you will not be the director of your company. The court will select a liquidator who then takes over full control of your business. All of the clients, cheque accounts, assets, cash, money that’s owed to the business and your buildings are no longer yours. Put simply, it is actually over. The company you have built over the years is no longer yours. All the assets will be sold, your office, shop or factory will be taken over by the liquidators ( these guys will even change the locks) and your services are actually no longer needed. Every facet of your business will now be under the administration of the liquidator.

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Bankruptcy Gympie,Bankruptcy Notice Gympie,Bankruptcy Help Gympie

Do I get any choices before the Liquidators seizing my business?

Yes. Our company offers a free initial consultation to guide you work through this problem. Our team of specialists can save you from remarkable distress. You should act quickly! Calling us the day before the liquidators arrive is useless. Contact Liquidators Gympie today on 1300 818 575.

Do I have any choices once the Liquidators have arrived?

No. The company is no longer in your control.

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Our Clients

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Bankruptcy Gympie,Bankruptcy Notice Gympie,Bankruptcy Help Gympie
Bankruptcy Gympie,Bankruptcy Notice Gympie,Bankruptcy Help Gympie
Bankruptcy Gympie,Bankruptcy Notice Gympie,Bankruptcy Help Gympie
Bankruptcy Gympie,Bankruptcy Notice Gympie,Bankruptcy Help Gympie
Bankruptcy Gympie,Bankruptcy Notice Gympie,Bankruptcy Help Gympie
Bankruptcy Gympie,Bankruptcy Notice Gympie,Bankruptcy Help Gympie
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