The Rules have changed
Since January 2012 if you don’t have your interests registered on the PPSR then you have no rights to your own assets not in your possession.
What is the PPSR?
The Personal Property Securities Register (PPSR) is the Government based system to have effective security and title over essentially every kind of Asset.
The PPSR is a way better system of securing assets compared to the old rules if and only if you are proactive and have your assets protected by a PPSR registration.
In the event of a customer refusing to pay, a PPSR will give you a negotiating tool as you become a secured creditor.
PPSR registrations get paid in order of the date of registration. Therefore, it is essential you act quickly before your competitors get in before you.
Who Does it Effect?
Individuals or companies that have any of the following Assets or Liabilities:
Loan Account, Accounts Receivable, Plant or Equipment, Contract rights, Plant and Equipment, Cars - Boats - Planes - Art, Crops and Livestock, Intellectual Property, Trading Stock.
Almost all businesses who have trade accounts have experienced a customer not paying their account.
Without a PPSR registration you do not have security over your assets.
Why Register?
Without a PPSR registration you do not have security over your assets.
Without a PPSR registration your assets are exposed
Liquidators are taking people’s assets if they are not PPSR registered and/or appropriately documented.
According to ASIC’s statistics, small to medium business failures are on the rise. So it stands to reason, it’s not a matter of if you will be effected by a business failure ??— It’s a question of when?
Why Use PPSR Asset Protection?
PPSR registrations have to be done correctly to be valid and the correct documentation is a necessity.
Unless the user is familiar with the definitions and terminology of the Government web site experience has demonstrated that a simple mistake will cause the registration to fail. In the recent landmark case of “Maidens” over 800 of the 1,000 PPSR registrations failed because of incorrect self entries.
Peace of mind!
Added Benefit:
With a PPSR registration you can use it as a tool in negotiating better outcomes with creditors and debtors as you go from an unsecured creditor / debtor to a highly ranked secured creditor / debtor.
Don't Leave Your Business Assets Unprotected.
Contact us today to learn how PPSR Asset Protection can help safeguard your business.
No obligation consultation, all information gathered and discussed is held in the strictest of confidence.