Bankruptcy Help Brisbane

Why Would A Company Go Bankrupt?

Oftentimes, directors, shareholders, and entrepreneurs face a myriad of problems that can threaten their company’s position in the economic world. Under rapidly evolving conditions, directors try to mitigate the negative toll on business by making quick decisions regarding their fiduciary duties – this, sometimes, can take a terrible turn and cause financial losses, which reduces the company’s ability to pay off debts.

How Can a Business Go Bankrupt?

Two things can happen:

• The directors file for bankruptcy (voluntary bankruptcy): The Australian Financial Security Authority (AFSA) will process the lodged application and decide within 24 to 48 hours after considering every aspect of your business.
• The creditors file for the bankruptcy (involuntary bankruptcy): They will give you 21 days to pay your debts off, but if you are still unable to do so, the court will proceed with the creditor’s application and declare you bankrupt.

How Can Brisbane Debt Solutions Help You?

As licensed, qualified and experienced professionals in bankruptcy and personal insolvency matters, we are adept at offering valuable advice to struggling businesses and processing their cases. We understand your struggles better than anyone else in this field; you have our guarantee for that. Our experts are there to guide you throughout your bankruptcy proceedings – should you decide to go for it. We can also provide consultation and advice after considering your financial statements, and let you know if going for bankruptcy is a wise decision.

Give us a call today at 1300-88-70-93 or visit us at Level 7, 190 Edward Street, Brisbane, Australia, 4000.