VIP (Virtual Insolvency Partner) Program
History shows us that insolvencies increase during the recovery phase of an economy given that a number of businesses utilise their working capital available to ride an economic downtown, but by the time the recovery phase arrives all resources have been exhausted and the economy simply moves ahead leaving behind those business without any working capital.
A downturn provides an opportune time for businesses to critically assess their financial position to ensure that they have sufficient working capital to not only to survive but to continue to operate profitably into the future during a recovery phase.
The Program
The VIP program provides you with a virtual insolvency partner to assist you with a client who is enduring financial difficulties. We will assess your client’s financial position and solvency, then provide the various options available based upon the clients financial circumstances.
To undertake a preliminary solvency assessment, the following information is required:
- Current balance sheet
- Aged payables & receivables report
- Confirmation of the status of business activities statement and income tax return lodgements
- Confirmation that employee entitlements (including superannuation) are up to date or if outstanding can be brought up to date within a reasonable time period
Following a review of same a virtual meeting can be held with you and your client in respect to it’s financial position and the various options available to deal with the company’s solvency issues.
We can help
Insolvency Options are your expert advisors when it comes to debt solutions and business needs. We provide the tools and information you need to make the best decision so we can get the best outcome for you.
Insolvency Options are the experts you can turn to when you need help.
Book Your Free Confidential Consultation
We know taking the first step to call for help is not easy.
Our initial step in your consultation is to listen to best try and understand your situation. Your confidentiality is just as important to us as it is to you.
Our consultation also covers what your options are; the benefits, considerations, costs and expected outcomes of each option. Anything that you have disclosed to us during this consultation is kept completely confidential.