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How Do Your Creditors Get Paid in Company Liquidation?

Posted by Revive Financial on May 15, 2019 11:45:53 AM

Once a company goes into Liquidation, one of the key issues for its directors and creditors alike is how will the creditors be paid.

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Topics: Company Liquidation

The Effects of Personal Insolvency on Your Credit Score

Posted by Revive Financial on Apr 5, 2019 3:09:54 PM

If you have unmanageable debt and your weekly income doesn’t cover your day-to-day living expenses, you might be facing personal insolvency. Personal Insolvency is defined as a situation where you are unable to pay your debts when they fall due.

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Topics: Bankruptcy, Personal Insolvency

Become a Better Business Cashflow Manager

Posted by Revive Financial on Mar 22, 2019 4:30:00 PM

Cash can be elusive in a business. You and your team are flat out, sales are up, but the bank account doesn’t show it and tax or bill due dates come around way too quickly. By setting up your processes right and scheduling necessary checks, cashflow will basically manage itself!

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Topics: Director Advice

Employers Could Face Jail Time for Not Paying Superannuation Under New Laws

Posted by Revive Financial on Mar 6, 2019 10:32:00 AM

Not paying your employees their superannuation entitlements will now mean you could face jail time. The new laws give the ATO the power to enforce up to 12 months’ jail time or hefty fines for directors of companies that do not to pay their employee superannuation entitlements.

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Topics: Director Advice

6 Ways to Deal With Out-of-Control Debts

Posted by Revive Financial on Mar 4, 2019 9:00:00 AM

Struggling to pay your bills or make loan/credit card repayments is a scary position to be in, especially if you have a family relying on you. The worst thing you can do in this situation is ignore it and hope it will go away – this will only make things worse. Instead, you need to take action now.

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Topics: Personal Insolvency

Bankruptcy Income Contributions

Posted by Revive Financial on Feb 28, 2019 2:00:00 PM

Entering bankruptcy does not normally prevent you from working. However, when you earn as a bankrupt, you may be required to pay income contributions towards your bankrupt estate. Whether you pay, and how much you pay, depends on your income.

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Topics: Bankruptcy

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