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Reduce Your Unsecured Debt By 80% Or More With Voluntary Administration

November 4th, 2016

Reduce your unsecured debt by 80% or more with voluntary administration. Here’s how: Too many times I speak to directors who are trying to handle things too late in the insolvency process. Did you know that if your company is in financial distress, but if you get on the front foot you could reduce your unsecured debt by over 80%? If you believe you’ve got a viable business, if it wasn’t weighed down by unsecured debt, then restructuring may be a good option for you.

So how does restructuring or voluntary administration work? Well once an administrator is appointed, they work through what’s called a “Deed of Company Arrangement,” which is basically an offer to creditors. And that offer usually comes in at around 20 cents on the dollar, i.e. an 80% reduction in your unsecured debt. You, as director, continue to trade the business and the administration process winds down normally after about a month.

So would the administration process make a significant impact on your business? Well the answer is probably, “Yes.” So, before you get a judgement, before you get a statutory demand, dare I say it, before you get a Wind Up notice, you should really think about whether restructuring may be a good option for your business. We’re experts in this area. We’ve helped a lot of companies in a lot of different industry sectors through this process, and we’re happy to help and talk to you. So please call us now, 1300-789-499.

If Your Business Finances Are Out Of Control, We Can Help.
Call us on 1300 905 107 or Click Here For More Information.

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David Hill
David has over 15 years in the insolvency industry – advising clients through restructuring of their business. His clear, “straight up” style provides clients with a strong direction of what they need to do, and how the process will work. As importantly, he brings empathy to the process – which is essential at a “high-stress” time for clients.

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