Managing financial distress

The recent rise in the cost of living and the aftermath of the COVID-19 crisis has affected millions of Australians, and a lot of people are struggling financially right now.

If you are in financial distress, here’s some information and resources to help you take control of your situation.

Are you worried about your PERSONAL finances?

Are you struggling to pay your debts? The Australian Financial Security Authority provides information on your options.

Find out more about bankruptcy (personal insolvency) and understand your options.

Look after your mental health – Financial worries can be emotionally crushing. Here’s some advice to keep you on an even keel.

Beware of dodgy advisers – it's not unusual for dodgy advisers to contact people who are in financial distress.

Want to talk to someone about your situation? If you’re worried about bankruptcy, an ARITA Professional Member can help you understand your financial position and what options you have available, and help you set a path forward. Most offer a free initial consultation.

Is your BUSINESS in financial trouble?

8 essential steps if your business is in distress – this guide shows you to handle a financial crisis in your business.

See if you can get some Government help – the Australian Government is offering financial assistance to Australian businesses to support them through the Coronavirus.

Find out more about corporate insolvency and liquidation and understand your options.

Directors’ duties in uncertain financial times – explains how company directors’ duties may change when faced with financial distress and who they can turn to for expert advice.

Safe harbour factsheet – find out about new laws that can help directors stabilise and revive struggling but viable companies.

Look after your mental health – make sure you take care of your most important asset: you.

Beware of dodgy advisers – it's not unusual for dodgy advisers to contact company directors who are in financial distress.

Need some advice you can rely on? If you’re worried about insolvency, an ARITA Professional Member can help you understand your financial position and what options you have available, and help you set a path forward. Most offer a free initial consultation.