Debt Management
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- Having trouble meeting your financial commitments?
- Being harassed by creditors and others?
- About to lose your home?
- About to lose your business?
- Got a poor credit rating – want a loan?
- Credit Cards maxed out?
- Already bankrupt & want a solution?
- Suffering from financial and/or credit stress?
- Got a director's penalty notice from the tax office?
- Can't pay your bills?
Let us give you the options available to you and make a NO OBLIGATION recommendation to solve your problems.
PBCL Advisory Pty Ltd offers straightforward and easy-to-access solutions to Debt Management concerns and issues.
- Court Registered Instalment Plans
- Debt Consolidation
- Voluntary Bankruptcy
- Part X Personal Insolvency Agreements
- End Your Bankruptcy
- Company Liquidations
- Voluntary Administration
- Deeds of Company Arrangement
- Problems with the Tax Office – Directors Penalty Notices
- Informal Arrangements
Arrangement with Creditors
- At PBCL Advisory Pty Ltd we can assist clients who are having problems with Creditors in the following areas:
- Informal Arrangements
- Court Registered Instalment Plans
- Debt Consolidation
Bankruptcy
If you have debt that is beyond your control and you have creditors that are making your life a misery then read on.
Bankruptcy may be an option for you.
If you want professional advice and guidance on voluntary bankruptcy (called the filing of a Debtors Petition) then can we make you this promise? We will listen to you. We won’t judge you.
We will advise you on your options and how these options will affect you. We will be truthful and only give you the facts. Declaring bankruptcy is not a crime, it is a right afforded to anyone who resides in Australia.
If you are experiencing severe debt stress by trying to avoid bankruptcy, you may only make matters worse. PBCL ADVISORY can give you your options and assist you with the Voluntary Bankruptcy process should that option be ideal for you and your current circumstances.
If you have a mortgage on your home, we can show you that even though you are bankrupt, you may keep it. (Ask us how)
We are happy to give you free & friendly advice in strict confidence.
Bankruptcy involves an exchange. You hand over control of your property and finances to a Trustee (the person who takes control over your property) in exchange for protection from legal action by your creditors (the people/companies you owe money to). You do not have to have a minimum amount of debts or property to enter bankruptcy.
Some of your assets (property you own) may be sold to pay your debts. If your annual income is over a certain amount you must make payments to your Trustee, which go towards paying your debts.
Bankruptcy usually lasts 3 years but can be shortened or extended. At the end of the bankruptcy, your debts (with a few exceptions) will be cleared.
Bankruptcy may be an option for you.
If you want professional advice and guidance on voluntary bankruptcy (called the filing of a Debtors Petition) then can we make you this promise? We will listen to you. We won’t judge you.
We will advise you on your options and how these options will affect you. We will be truthful and only give you the facts. Declaring bankruptcy is not a crime, it is a right afforded to anyone who resides in Australia.
If you are experiencing severe debt stress by trying to avoid bankruptcy, you may only make matters worse. PBCL ADVISORY can give you your options and assist you with the Voluntary Bankruptcy process should that option be ideal for you and your current circumstances.
If you have a mortgage on your home, we can show you that even though you are bankrupt, you may keep it. (Ask us how)
We are happy to give you free & friendly advice in strict confidence.
Bankruptcy involves an exchange. You hand over control of your property and finances to a Trustee (the person who takes control over your property) in exchange for protection from legal action by your creditors (the people/companies you owe money to). You do not have to have a minimum amount of debts or property to enter bankruptcy.
Some of your assets (property you own) may be sold to pay your debts. If your annual income is over a certain amount you must make payments to your Trustee, which go towards paying your debts.
Bankruptcy usually lasts 3 years but can be shortened or extended. At the end of the bankruptcy, your debts (with a few exceptions) will be cleared.
End your Bankruptcy
Bankruptcy in Australia can be an attractive and viable option for some people wanting to settle their outstanding credit problems. Bankruptcy in Australia lasts three years starting from the date you filed a Statement of Affairs. The Trustee may extend this period to five or eight years if you fail to fulfil your obligations during bankruptcy.
There are 2 ways to annul your bankruptcy – that is treating it as if it never happened.
Section 153A of the Bankruptcy Act of 1966 allows you to annul your bankruptcy at any time during the three year period as long as your debts are paid in full.
Under Section 73 of the Bankruptcy Act of 1966, a bankrupt may make an offer of a composition or enter into a scheme of arrangement with creditors to settle the debts. You must offer monies that are not available to creditors, such as money offered by a relative or income that is not under any contribution assessment liability.
Section 153A of the Bankruptcy Act of 1966 allows you to annul your bankruptcy at any time during the three year period as long as your debts are paid in full.
Under Section 73 of the Bankruptcy Act of 1966, a bankrupt may make an offer of a composition or enter into a scheme of arrangement with creditors to settle the debts. You must offer monies that are not available to creditors, such as money offered by a relative or income that is not under any contribution assessment liability.
Company Liquidations
- At PBCL Advisory Pty Ltd we can assist clients in relation to Company Liquidations’ in the following areas:
- Members Voluntary Liquidations
- Creditors Voluntary Liquidations
- Small Business Restructuring
MEMBERS VOLUNTARY LIQUIDATION
This is the process of winding up a solvent company. It is done when the members no longer wish to retain the company structure. This usually occurs when the company has reached the end of its useful life.
This is the process of winding up a solvent company. It is done when the members no longer wish to retain the company structure. This usually occurs when the company has reached the end of its useful life.
CREDITORS VOLUNTARY LIQUIDATION
The purpose of liquidation of an insolvent company is to have an independent and suitably qualified person (the liquidator) take control of the company so that its affairs can be wound up in an orderly and fair way for the benefit of all creditors.
There are two types of insolvent liquidation:
- Creditors’ Voluntary Liquidation
- Court liquidation
Company Administration
- At Debt Options Pty Ltd we can assist clients in relation to Company Administrations in the following areas:
- Voluntary Administration
- Deeds of Company Arrangement
VOLUNTARY ADMINISTRATION
Voluntary administration is an insolvency procedure where the directors of a financially troubled company or a secured creditor with a charge over most of the company’s assets appoint an external administrator called a ‘voluntary administrator’.
Voluntary administration is an insolvency procedure where the directors of a financially troubled company or a secured creditor with a charge over most of the company’s assets appoint an external administrator called a ‘voluntary administrator’.
- DEED OF COMPANY ARRANGEMENT
- A Deed of Company Arrangement (DOCA) is a binding arrangement between a company and its creditors governing how the company’s affairs will be dealt with, which may be agreed to as a result of the company entering voluntary administration.
Problems with the Tax Office
Are you or have you been a director of a company within the last 12 months? If you answer yes to this question and the company has a debt to the Australia Taxation Office you should read this information carefully.
Company directors have an obligation to ensure that the company meets its PAYG withholding payment obligations and GST obligations. If you are a director of a company and the company fails to pay a PAYG withholding amount or GST on or before the due date, you can become personally liable for a penalty equal to the unpaid amount. Additionally, the Company must pay its superannuation obligations by the due date or you as the Director can be liable for these unpaid sums also. When an unpaid PAYP, GST or Superannuation obligation remain outstanding, the Tax Office may issue a director penalty notice.
Company directors have an obligation to ensure that the company meets its PAYG withholding payment obligations and GST obligations. If you are a director of a company and the company fails to pay a PAYG withholding amount or GST on or before the due date, you can become personally liable for a penalty equal to the unpaid amount. Additionally, the Company must pay its superannuation obligations by the due date or you as the Director can be liable for these unpaid sums also. When an unpaid PAYP, GST or Superannuation obligation remain outstanding, the Tax Office may issue a director penalty notice.
If you receive a Director Penalty Notice please call PBCL Advisory Pty Ltd IMMEDIATELY – delay can be catastrophic. Call us today.
DISCLAIMER
Please note we are not finance brokers and are not offering any type of finance product. We are licensed debt and insolvency consultants.If you require the services of a finance broker we are happy to refer you to one.