New first-of-its-kind helpline makes it easier for businesses and individuals
to reach out for insolvency guidance
A new national insolvency helpline – the first of its kind – has been launched by Insolvency Australia. The Insolvency Australia National Helpline is designed to connect businesses, individuals and trusted advisers who need guidance, with experienced, registered insolvency specialists.
The helpline is focused purely on insolvency, and features an independent panel consisting of qualified business and personal insolvency practitioners registered with ASIC / AFSA who can provide help. The service is free to callers requiring assistance, and they will receive a complimentary 15-minute consultation with a helpline panel member to discuss their specific situation.
Gareth Gammon, CEO of Insolvency Australia, calls the helpline "an important lifeline".
"Australia's insolvency numbers recently reached their highest levels this year, and the cost-of-living crisis is putting pressure on businesses and individuals alike," he says. "More and more people are finding themselves in financial distress, but many might not know who to turn to. That's understandable; experiencing insolvency can be a daunting, stressful experience. It's why we have put together this independent team of highly qualified business and personal insolvency specialists to help navigate the process.
"So, whether it's for a business owner, individual, or a trusted adviser such as an accountant or lawyer – regardless of where they are in Australia – calling the Insolvency Helpline can be a vital first step. It will help people understand their options sooner. The earlier help is sought, the wider the range of options available, and the greater chance of achieving the best-outcome solution."
For any businesses, individuals or advisers needing assistance, the Insolvency Helpline number is 1300 360 800 and website is IA National Insolvency Helpline - Insolvency Australia. The helpline is available Monday to Friday from 8am to 5pm Eastern Australia Time (excluding public holidays).
