OneSmall Business Owner’s Story
I figured out I was in strife when the bank wouldn’t lend me any more against the farm. This home has been in the family for years and the prospect of having to give it up was way too much. I called my financial advisor and my bookkeeper, and they both encouraged me to go and see Liquidators Joondalup which I didn’t do, of course. I found this other liquidation firm and they said that’s the only escape. I understood I had significant debt, but it just felt like I had no choice. My accountant said that because I am paying for the liquidator and that it was likely going to be a voluntary liquidation that I would most likely be protected. WRONG!
I found some Liquidators, they seemed to be professional and capable and they said they would help me as much as they could to work through my money issues. I had no idea what was about to happen. They appeared to understand my circumstance; I had some money coming in and a sale of some equipment going through.
The second I signed the paperwork the liquidators asked for the keys and that was it. Everything was taken out of my hands, the sale of the machinery was totally taken over, the money I had coming in was gone, they took control of each and every single thing; it was all gone. The next day my savings account was frozen and what I felt was going to be a beneficial situation ended up my worst nightmare. I lost everything!