Insolvency and Bankruptcy Lawyers Brisbane, QLD
Are you looking for insolvency law firms Brisbane? At Macmillan Lawyers and Advisors, our insolvency lawyers have the expertise and experience to provide cost-effective commercial solutions in insolvency and debt recovery situations.
Our team, led by the experienced insolvency lawyer Kyle Macmillan and seasoned Tom Pils, brings a wealth of experience and a track record of success in handling complex insolvency cases.
Our team of insolvency and bankruptcy lawyers in Brisbane can help you with personal and corporate insolvencies, business restructuring, liquidation, and bankruptcy.
We are dedicated to working with business owners like you, helping you assess your financial situation with compassion and understanding.
Our approach is simple:
- Free Consultation: The first step towards an improved financial future is understanding your situation. We offer free consultations to listen to your story, assess your circumstances, and explain the full range of legal and financial solutions available.
- Tailored Expertise: No two debt cases are alike. We tailor our expertise to your unique needs, providing personalised strategies to tackle your specific debt challenges.
- Swift and Efficient Resolution: Time is of the essence when dealing with debt. We are committed to resolving your concerns quickly and efficiently, minimising the stress and disruption caused by unsettled finances.
Together, we will identify the best options, including solutions like voluntary insolvency Brisbane, that consider the welfare of you, your family, and your employees. We aim to be your reliable partner, guiding you with expertise and empathy through this challenging period towards a more stable future.
How to Get to Macmillan Law Office?
To reach Macmillan Law Office from Brisbane City Hall, start by walking northeast on Adelaide Street towards Albert Street for about 500 meters. This part of the journey is mostly flat and easy to navigate. After covering this distance, take a right turn onto Creek Street. Continue for another 300 meters, and you will find the Macmillan Law Office on your left. The total walking distance is approximately 850 meters and should take around 12 minutes.
Our Bankruptcy and Insolvency Law Services in Brisbane, QLD
Our team offers specialised insolvency services to address the unique financial challenges faced by individuals and corporations. Below, we highlight the core services we provide:
- ATO Tax Debt Management
- Director Advisory & Asset Protection Strategies
- Corporate & Personal Debt Recovery Solutions
- Personal & Corporate Insolvency Solutions
- Responding to Creditors' Statutory Demands
- Director Penalty Notices (DPN) Assistance
- ASIC Investigations & Compliance
- Company Administrations & Deeds of Company Arrangement
- Receiverships & Liquidations
- Personal Insolvency & Bankruptcy Arrangements
- Financial Restructuring & Recovery Strategies
- Debt Recovery through Insolvency & Bankruptcy Mechanisms
- Bankruptcy Applications & Legal Guidance
Facing overwhelming debt?
Secure a fresh start with our FREE 30-minute insolvency phone consultation.
Call us urgently at (07) 3518 8030 or email at [email protected] for personalised guidance.
Not quite ready?
Take our 2-minute Online Insolvency Check to see where you are at.
FREE INSOLVENCY CHECK (takes 2 minutes)
🔒 Discreet and free review of your insolvency situation.
Why Choose Macmillan Lawyers & Advisors Brisbane
At Macmillan Insolvency Firm Brisbane we are committed to making sure you get the insolvency help you need to get you out on a better path.
- Discreet Service: We understand that privacy is a priority during this time. Our commitment is to handle your case with the utmost discretion, aiming to shield you from unnecessary exposure to protect your image.
- Nationwide: No matter your location in Australia, we are equipped to assist you through corporate or personal insolvency procedures.
- Financial Prudence: Our primary objective is to lift your burden, helping you save money where possible. We find the best route to navigate the insolvency process in the most cost-effective manner.
- Eliminating Stigma: Insolvency often comes with societal judgements. We assure you that embarking on this path does not define your worth or capabilities. We stand with you, affirming a promising future beyond this phase.
- Expert Guidance: Offering you clear and comprehensive insights and enabling you to make informed decisions.
Our Achievements and Recognitions:
- Google Reviews: Our credibility is echoed by our clients, with 44 five-star reviews on Google testifying to our dedication and expertise.
- Association Memberships: Our membership with the Queensland Law Society underlines our commitment to professionalism and excellence
At Macmillan Lawyers and Advisors, we are more than just your lawyers; we are your trusted partners in insolvency law Brisbane, guiding you step-by-step on the road to financial recovery. We invite you to experience a service that is centred around your needs, wants, and situation, offering not just legal advice but a supportive hand during this challenging time.
What is Personal Insolvency?
Personal insolvency refers to a situation where your debts outweigh your assets, making it impossible to pay them back in full. Even though it seems simple enough, proving or contesting insolvency claims can be intricate and often requires expert legal advice.
Moreover, personal insolvency is an umbrella term encompassing three main options for resolution:
- Bankruptcy: This is the most formal and serious step. A trustee takes control of your assets and distributes them to creditors. While it has negative connotations, it can also offer a clean slate and a fresh financial start.
- Debt Agreements: These are negotiated arrangements with your creditors, typically involving lower repayments or extended terms. It can be less disruptive than bankruptcy, but requires commitment and discipline.
- Personal Insolvency Agreements (PIAs): Similar to debt agreements, PIAs involve negotiated repayment plans, but with more flexibility and control for the debtor. It's a relatively new option that has been gaining popularity.
Bankruptcy vs Personal Insolvency
Personal insolvency is a financial status indicating that an individual cannot pay their debts, whereas bankruptcy describes an individual's legal status where a formal process is used to address their insolvency.
In Australia, bankruptcy and personal insolvency are often used interchangeably; however, they differ in formalities, consequences, and potential outcomes.
Bankruptcy
- Formal process: Requires a court order and involves the appointment of a trustee who takes control of your assets and distributes them to creditors
- Strict consequences: Credit reporting for 5 years, limitations on overseas travel, and potential restrictions on holding certain professions
- Debt relief: Most debts are released at the end of the bankruptcy period (usually 3 years and 1 day)
- Suitable for: Individuals with significant debts and limited assets, as well as those facing prolonged financial difficulties.
Personal Insolvency
- Umbrella term: Encompasses various formal and informal methods for dealing with debt outside of bankruptcy
- Options: Includes debt agreements, personal insolvency agreements (PIAs), and temporary debt protection
- Flexible approach: Allows for negotiation with creditors and potential retention of some assets
- Debt reduction: May not offer complete debt relief, but can significantly reduce overall debt burden
- Suitable for: Individuals with manageable debts who want to avoid the full consequences of bankruptcy.
| Bankruptcy | Personal Insolvency | |
| Definition | – Formal process – Requires a court order – Involves the appointment of a trustee – Trustee takes control of your assets and distributes them to creditors |
– Umbrella term – Encompasses various formal and informal methods for dealing with debt outside of bankruptcy. |
| Resolution Options and Consequences | – Strict consequences – Credit reporting for 5years – Limitations on overseas travel – Potential restrictions on holding certain professions – Permanently listed on the NPII |
– Debt agreements – Personal insolvency agreements (PIAs) – Temporary debt protection – Negotiation with creditors – Potential retention of some assets |
| Debt Relief | Most debts are released at the end of the bankruptcy period (usually 3 years and 1 day). | May not offer complete debt relief, but can significantly reduce overall debt burden. |
| Suitable for | – Individuals with significant debts and limited assets – Individuals facing prolonged financial difficulties |
– Individuals with manageable debts – Individuals wishing to avoid the full consequences of bankruptcy |
| Likely Causes | – Excessive credit use – Unemployment – Health problems – Adverse economic conditions – Inability to collect debts |
|
FREE INSOLVENCY CHECK (takes 2 minutes)
🔒 Discreet and free review of your insolvency situation.
Legal Counsel for Creditors
We represent and provide counsel to creditors on recovering secured and unsecured debts. Our expertise extends to boosting future debt recoveries in Brisbane by setting up effective trade terms and clauses regarding security and payments. We assist creditors during deeds of company arrangement, voluntary administration, and the liquidation process.
Legal Advice for Company Directors and Individuals
We offer strategic advice to both individuals and company directors who are considering restructuring their large or small businesses. Our skills and experience provide a firm foundation for navigating financial difficulties, whether through informal arrangements, negotiations with creditors, or formal processes.
Legal Counsel for Insolvency Practitioners
Our team of experts regularly advises insolvency practitioners on various issues that emerge throughout deeds of company arrangement, administrations, liquidations, receiverships, and bankruptcies. To achieve outstanding service and collaborative solutions, we promote trust and long-term relationships.
Insolvency and Bankruptcy Lawyers FAQs
Contact details:
Macmillan Lawyers and Advisors
- Phone: (07) 3518 8030
- Email: [email protected]
- Address: Level 38/71 Eagle St, Brisbane City QLD 4000
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Level 38,
71 Eagle Street,
Brisbane QLD 4000
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Reviews
Mackenzie L
MacMillan Lawyers and Advisors in Brisbane have been a total lifesaver! Their insolvency lawyer was super friendly and helped me navigate some tricky financial waters. I'm so relieved, and I can't thank them enough!
Bailey S
Wow, the insolvency lawyers at MacMillan Lawyers in Brisbane really know their stuff! They made a stressful situation much easier to handle. Super grateful for their help.
Austin K
I had a fantastic experience with MacMillan Lawyers and Advisors in Brisbane. The insolvency lawyers were professional and approachable, and they sorted out my financial woes in no time. I can finally breathe easy!
Isla B
MacMillan Lawyers in Brisbane were brilliant. Their insolvency lawyers were game-changers for me during a tough financial period. I feel like I'm on the right track now, thanks to their expert guidance. Highly recommended!