| Email: info@greenhalghpickard.com.au | |
| Tel: 07 5444 1022 | |
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NEWS
At Greenhalgh Pickard Solicitors, we have extensive experience providing legal advice in the area of consumer credit, debt recovery and finance and insolvency law. We understand the need for fast, efficient service in dealing with bankruptcy and insolvency matters, especially when personal or business finances are at risk.
We can assist both creditors and debtors with advice and legal representation in all aspects of insolvency and bankruptcy. If you or your business is in financial trouble or suffering a cash flow crisis, it is important to seek legal advice. Bankruptcy is a serious legal matter and if creditors are pressing you for payment, bankruptcy may seem attractive; however, it should be avoided at all costs. Our experienced bankruptcy and insolvency solicitors will advise you openly and honestly about the best course of action.
What is insolvency?
There are two types of insolvency: corporate insolvency and personal insolvency. Insolvency is the inability of an individual or company to pay their debts. An external administrator may be required to secure repayment of debts to all creditors to the extent that the debtor has the funds to cover those debts. If the debtor does not have enough funds to repay all debts then the administrator must distribute whatever funds and assets the debtor has amongst all creditors in accordance with pre determined rules.
What is bankruptcy?
Bankruptcy is when someone gives up all assets and control of their finances. This can happen by agreement or through a court order, in exchange for protection from further legal action taken by creditors. The consequences of filing for bankruptcy are serious for both the borrower and the lender. Those finding themselves in a position where debt recovery has become an issue should always seek the advice of a specialist debt recovery or insolvency solicitor to help assess the available options before moving forward.
Before considering bankruptcy, it is important that you fully understand the ramifications as bankruptcy has serious consequences and restrictions on your life. Speak to an experienced bankruptcy & insolvency solicitor at Greenhalgh Pickard who can explain to you the consequences as there are alternatives to bankruptcy.
Greenhalgh Pickard Solicitors can assist with:
- Issue debt recovery letters
- Advise on the best options available to recover a debt in the specific circumstances of the case
- Advise on whether a counter-claim can be pursued to dispute the amount of a debt
- Asses other options for dispute resolution to resolve the situation quickly and with the least cost
- Lodge court documents where necessary to protect the client’s rights
- Assist a client in deciding if it is best to defend a matter and, if so, suggest the best action to take
- Provide court representation and attend other related meetings
If you find yourself in the position of considering filing for bankruptcy or insolvency talk to Greenhalgh Pickard Solicitors first, call 07 5444 1022 or email info@greenhalghpickard.com.au