Personal Insolvency Agreement

A personal insolvency agreement is a debtor and his/her creditors which offers payment in full or part by instalments or a lump sum. The offer must be accepted by a special resolution of creditors (majority in number and at least 75% in value). There are no debt, asset or income limits to be eligible to propose a personal insolvency agreement.

The debtor appoints a controlling trustee who will investigate his/her affairs and report to creditors. Should creditors accept the proposal, a trustee must administer the agreement.

We can assist to formulate and present a proposal on behalf of a debtor to his/her creditors that will be both achievable and timely when compared to the alternative of bankruptcy

Personal Insolvency

Sometimes a person can find themselves facing unmanageable debt, which can only be resolved by a formal appointment to facilitate the repayment of creditors.

Our Registered Trustees have the experience and knowledge to offer the optimal advice to ensure the greatest outcomes for all parties.

For more information, please click on the link below to contact one of our advisors.

02 9234 0444