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The finance company we borrowed from is grinding us down. What can we do?

Receivership and Liquidation - What's the Difference?

You often hear about a company going into receivership, or going into liquidation, as if they’re the same thing

  • 19 May 2009
  • Author: Geoff Hardy
  • Number of views: 5135
  • 0 Comments
Receivership and Liquidation - What's the Difference?

In fact they’re quite different. 

Both are a sign that the company is either in financial trouble, or has outlived its usefulness. In both cases the management of the company is taken away from the directors and senior staff, and put into the hands of someone else. And both receivers and liquidators have to look after the “preferential” creditors and file progress reports on the Companies office website. 

Consumer Credit Laws get an Overhaul

All of us borrow money from time to time, whether it be a mortgage advance, a personal loan, credit card debt, or simply hire purchase.

  • 4 November 2003
  • Author: Geoff Hardy
  • Number of views: 1301
  • 0 Comments
Sometimes the less sophisticated borrowers within our society get taken for a ride by unscrupulous loan sharks and back alley finance companies. Sometimes they simply get into trouble through their own lack of discipline and unfamiliarity with financial matters. The house buy-back schemes that have been flourishing in South Auckland and elsewhere are an example of the type of imbalance that can arise.
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