If you are under constant pressure from creditors for failing to pay debts on time, professional advice could save you from going into liquidation. In many circumstances, voluntary administration is a solution that could provide breathing space for a company and an opportunity to pay off any outstanding debts. Acting early and employing the assistance of experts such as Australian Debt Solves provides the best prospects of reducing debt and turning things around. Our team of administrators registered by ASIC and ARITA Members have saved businesses across Australia. Read about how we have saved organisations in the past and how easy it is to get expert advice. Expert advice can ensure that you keep trading and help build a brighter, more profitable future.
Voluntary administration is an insolvency process and is initiated to help a company that’s in financial trouble. Generally, the companies that turn to voluntary administration are facing debt issues, such as not being able to pay creditors.
Voluntary administration is executed over a series of steps, beginning with the decision to enter into voluntary administration, proceeding with the appointment of an administrator who investigates the status of the organisation, and culminating in creditors meeting to decide future courses of action.