Are You Facing Company Insolvency? Don’t Be Limited Has Solutions
Company insolvency means that a business is no longer able to pay its lenders what is owed when debts become due. During voluntary insolvency, the business owner decides that they need help sorting out their finances and finding solutions. This approach is preferable to not admitting to needing help and having a creditor or creditors force a formal insolvency process. You have more control over a voluntary process–but in either case, Don’t Be Limited can help.
What You Should Know about Solvent Liquidation and Insolvent Liquidation
While many people assume that liquidation is only for insolvent companies, that isn’t always the case. Liquidation can also work for solvent companies. Here are a few things that you should know.
- Business owners choose liquidation for a variety of reasons. Entering into liquidation can minimise your risk as well as the risk to creditors. For an insolvent company, liquidation means a clean break and an end to being chased by creditors.
- Solvent companies may also choose liquidation. For example, a company may have enough assets but no purpose or future use, or the directors may wish to retire and transfer cash and assets to themselves.
- A voluntary process is ideal. In the case of voluntary insolvency, you have more control over the process, paying off a portion of your debts over a period with a plan that you agree to follow. You will not need to involve the court; a private liquidator can help you achieve these goals.
What Sets Don’t Be Limited Apart Regarding Solvent and Insolvent Liquidation?
When choosing a liquidator to work with, it’s important to choose an experienced and provider to ensure that your case is handled professionally and efficiently. Here are a few of the things that set Don’t Be Limited apart from the competition.
- Authenticity. We don’t set out to impress people with fancy clothes or cars. Instead, we let our deeds speak for us. You’ll find a little something different in Don’t Be Limited: real people who know what they’re doing and care about your results.
- Integrity. We believe in honesty and straight talk. We take our word seriously. When you’re facing turmoil, we strive to be someone who you can trust.
- More possibilities. We pride ourselves on thinking outside the box. We know that balance sheets don’t tell the entire story. We’ll look at the big picture and the individual people involved, seeking out possibilities that we can use to achieve a better outcome.
About Don’t Be Limited
We don’t base our decisions on money, so you’ll pay no starting fee when you choose to work with us. That’s just one of the perks of hiring Don’t Be Limited to help with your liquidation. We cover Auckland, Waikato, and Bay of Plenty, but we can work anywhere in New Zealand if required.
What we offer is simple: professional and friendly assistance for small business owners, shareholders, and creditors. If you think liquidation might be right for you, contact us today.