Are you feeling as though you are in over your head with financial debts? Thinking of going into insolvency but do not know where to begin? You may require the assistance of an insolvency lawyer. Insolvency is when an individual cannot pay their debts and financial obligations owed in full. It is illegal for directors of a company to continue to operate when the company is deemed insolvent.
It is important to understand that there are many options for tackling the problem when you first start having financial difficulties. Such alternatives include talking to creditors, lodging a Declaration of Intention to Present a Debtor’s Petition, entering a debt agreement, or entering a personal insolvency agreement. An insolvency lawyer at LegalVision will be able to go through all the options that you should consider before making such an important final decision.
If you do ultimately decide to go insolvent, you will have to go through the arduous and complex process of filing a Petition for Bankruptcy and Statement of Affairs form, which incurs various consequences. Our insolvency lawyers are able to guide you through the whole process to make this difficult task a time and money-saver.
If you have questions about an insolvency matter, get in touch. We can also provide legal advice on dispute resolution and shareholder agreements. Our team of insolvency lawyers will get back to you with a quote. Fill in the form on this page or give us a call on 1800 870 694.
