Visit our dedicated small business restructuring site for small business owners facing financial distress.
Sydney CBD - Personal Services
Confidential debt advice in the Sydney CBD
If debt is getting on top of you, you don't have to work it out alone. We give confidential advice to individuals and families across Sydney, including people whose debts are tied to a business. We'll help you understand where you stand and what your options are.
Castlereagh Street, Sydney CBD · Australia-wide by phone and video · Registered liquidator and bankruptcy trustee
Advice in the city, on your schedule
If you work or live in the city, getting advice shouldn't mean taking a day off.
In the Sydney CBD. Meet us at 160 Castlereagh Street for a confidential conversation, by appointment.
Appointments around your working day. Meet in person, by phone or by video, with appointments outside business hours by arrangement.
One conversation for the whole picture. Personal debt, business debt, or both, so you're not passed between different advisers.
You can contact us directly, or bring your accountant, lawyer or a support person.
When to seek help
Signs it's time to get advice
Who we see:
People with no business at all, where credit cards, loans or a tax bill have outrun their income.
Former business owners who are still carrying debts from a company that has closed.
Directors who have become personally liable through a guarantee or a Director Penalty Notice.
None of these is a moral failing. The law provides formal ways to deal with debt you can't repay.
Get advice if:
You're relying on credit to cover everyday costs
Repayments are taking most of your pay
A creditor has threatened legal action, or you've received a bankruptcy notice
A guarantee has been called in, or a DPN has arrived
You're avoiding calls and letters
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WHO YOU WILL WORK WITH:
Thyge Trafford-Jones
Thyge is an ASIC Registered Liquidator (No. 458321), Registered Small Business Restructuring Practitioner and AFSA Registered Bankruptcy Trustee (No. 1582).
He is a member of the Australian Reconstruction, Insolvency & Turnaround Association and CPA Australia. He is also a Justice of the Peace.
Thyge handles the assessment himself. You won't be passed to a case manager, and you'll get a straight answer about what is and isn't available.
WHO ELSE YOU WILL WORK WITH:
Melissa Daubney
Client Liaison
Melissa brings a rare blend of business acumen and compassion to her role at TTJ Advisory.
With a background in sales and marketing, and firsthand experience running her own small business, Melissa is known for going above and beyond to support individuals and small business owners through challenging times, ensuring they feel heard, understood, and in control of the path forward.
When she’s not supporting clients, Melissa is a proud mum of four boys and a master of juggling family life with work. Her secret weapons? Coffee, spreadsheets, and a great sense of humour.
Not sure where to start? Start here.
It may be credit cards and personal loans, a tax debt, or a business that didn't work out and left debts in your name.
Sometimes it's a change in income or a relationship ending. Sometimes business debts have followed you home.
You don't need to know which solution is right before you call. We'll explain the options, what each could mean for you, and what happens next.
Personal and business debts, looked at together
Thyge is a Registered Liquidator, Registered Bankruptcy Trustee and Small Business Restructuring Practitioner. That means he can work out what you owe, what you're personally responsible for, and which options may be available, across both personal and company debts.
You'll get plain-language explanations and practical next steps. If any part of your situation needs a separate independent specialist, we'll tell you at the start.
Tell us what's happening. We'll help you work through it.
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CASE STUDIES
Building contractor facing personal exposure
The notice arrived. The clock had already started.
Challenges
Fixed-price work, higher costs and delayed progress payments pushed a busy contractor behind with ATO and super obligations. A Director Penalty Notice brought the director's personal position into the matter.
Assets
Work in progress, contract receivables, vehicles, tools and equipment.
Debts
ATO and super liabilities, suppliers and finance commitments, with possible personal exposure for the director.
Proposal
The director's commercial lawyer brought Thyge in urgently for the insolvency assessment while retaining the legal matter. The company's position, the notice and the director's exposure would be reviewed separately, with timing treated as critical.
Outcome
No outcome is assumed. What remains available depends on the notice, lodgement history, timing and the underlying viability of the business.
Outcome
PRIMARY: Small Business Restrucuring
SECONDARY: Directors Penalty Notice Amendment, Statutory Trustee, Bankruptcy Advice
Retail or lifestyle business
Stock was on the shelves. Cash was not.
Challenges
A local retailer overbought stock before demand slowed. Cash became tied up in inventory while rent, suppliers and tax obligations continued to fall due.
Assets
Saleable stock, online store, customer relationships, fixtures and equipment.
Debts
ATO liabilities, suppliers and lease commitments.
Proposal
The bookkeeper saw aged payables and tax liabilities worsening and suggested an early conversation. Thyge would assess whether a profitable core remained, what value could be recovered from stock and whether the cost base could realistically be reset.
Outcome
No restructuring outcome is promised. Early review helps determine whether the business can be stabilised or whether an orderly exit would preserve more value.
Outcome
Professional services firm
A major client left. The tax debt stayed.
Challenges
An established consultancy relied heavily on one client. When the contract ended, receivables slowed but staff, software and occupancy costs continued. BAS and PAYG liabilities accumulated before the cost base could be reset.
Assets
Debtors, work in progress, client relationships, business IP and equipment.
Debts
Legacy ATO debt, employee entitlements and ordinary trade creditors.
Proposal
The firm's accountant made an early introduction. Thyge would first test whether the business remained viable at a lower cost base, then compare the available informal and formal pathways against a revised forecast.
Outcome
No outcome is assumed. The point is to assess the position while the client book, staff and underlying business may still hold value.
Outcome
Hotel and pub
Paid 18c in the dollar
Challenges
COVID-19 lockdowns, a 70% drop in monthly sales and high fixed and operating costs.
Assets
Debts
$280,000 unsecured, including $200,000 owed to the ATO
Proposal
A payment plan arranged with the ATO and other creditors to repay $40,000 over ten months.
Outcome
Creditors accepted the proposal. Unsecured creditors received their scheduled payments. The business avoided liquidation and the cost of voluntary administration, enabling future profitability and stability.
Outcome
Restaurant group
Paid 22c in the dollar
Challenges
COVID-19 lockdowns, a significant drop in customer foot traffic and increased supply costs.
Assets
Debts
$240,000 unsecured, including $180,000 owed to the ATO
Proposal
$52,800 to unsecured creditors, paid over eight months, supported by a cashflow forecast prepared for the repayment plan.
Outcome
Creditors accepted the proposal. Employees received their full superannuation and kept their jobs. Unsecured creditors received their scheduled payments. The business avoided liquidation and the cost of voluntary administration, allowing for future growth and stability.
Outcome
Custom cabinetry business
Paid 20c in the dollar
Challenges
Supply chain issues, higher material costs, fixed expenses and the impact of COVID-19.
Assets
Debts
$150,000 unsecured, including $125,000 owed to the ATO
Proposal
$30,000 lump sum for unsecured creditors, presented as a better return than liquidation.
Outcome
Creditors accepted the proposal. The business continued trading without significant debt and avoided voluntary administration.
Outcome
Construction business
Paid 15c in the dollar
Challenges
COVID-19 restrictions, supply chain disruption, increased material costs and project delays.
Assets
Cash at bank, vehicles and equipment
Debts
$300,000 unsecured, including $240,000 owed to the ATO
Proposal
$45,000 to creditors as a lump sum, supported by a detailed cashflow forecast and a private investor.
Outcome
Creditors accepted the proposal. Unsecured creditors received their dividend. The business avoided liquidation and the cost of voluntary administration, and continued trading.
Outcome
You don't need your paperwork in order or to know what to ask for.
Your first conversation is confidential and focused on understanding what has happened. Thyge will explain the options in plain language, identify any deadlines already running, and set out the next step.
A confidential conversation. What's happened, what's owed, what's already been lodged.
An assessment of the position. Whether the business is viable, and where personal exposure sits.
An agreed next step. In writing, with what it involves and what it costs.
Bankruptcy is one option, not the only one.
A Personal Insolvency Agreement (PIA) can settle your debts without bankruptcy. If the required majority of creditors accept it, it binds all your unsecured creditors.
Bankruptcy usually lasts three years, and most unsecured debts are released when it ends.
Both are recorded permanently on the National Personal Insolvency Index, so the right choice depends on your circumstances.
FAQ
The questions people across Sydney ask us most often.
Can I meet outside work hours?
Yes. Appointments outside business hours are available by arrangement, in person, by phone or by video.
Where is your Sydney CBD office?
160 Castlereagh Street, Sydney. Meetings are by appointment, or you can speak with us by phone or video.
What if my personal debts are connected to my business?
We can help assess how the two positions relate, including which obligations belong to you and which belong to a company.
Can someone join the conversation with me?
Yes. You're welcome to include your partner, a trusted support person, accountant or lawyer.
Does asking for help mean I'll have to declare bankruptcy?
No. Seeking advice helps you understand your position and the options that may be available. Bankruptcy is one possible pathway.
Do I need a referral?
No. You can contact us directly, or ask your accountant or lawyer to make an introduction.
Tools & Resources
SBR eBook for Accountants
Sole Trader Bankruptcy in NSW: Complete 2025 Guide by Licensed Trustee
Read Our Blog
SERVICES
LEGAL
EVERYTHING ELSE
AUSTRALIA OFFICES:
NORTHERN BEACHES:
Suite 222, 20 Dale St
Brookvale NSW 2100
Thyge Trafford-Jones
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Principal — ASIC Registered Liquidator (No. 458321) · AFSA Registered Trustee (No. 1582)
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Member, Australian Restructuring Insolvency & Turnaround Association (ARITA)
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Member, CPA Australia
TTJ Advisory is a registered business name of Restructure My Small Business Pty Ltd (ACN 670 511 476).
Liability limited by a scheme approved under Professional Standards Legislation.
© 2026 TTJ Advisory.
TTJ Advisory acknowledges the Traditional Custodians of the land on which we operate, live and gather as employees, and recognise their continuing connection to land, water and community. We pay respect to Elders past, present and emerging.
