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Personal Solvency

When individuals confront financial problems, where debt is building up and can no longer be managed, there are many options and consideration to balance up.

We have the compassion, skill and patience to help you understand the options that are available to help you make the choice that is right for you.

We can help you to explore all options before committing to a formal insolvency procedure. Those options could include:


Bankruptcy provides immediate relief from debt pressure and facilitates are fair division of your assets to your creditor, and an assessment of your finances to look for possible exemptions from the settlement.

There are particular obligations on individuals who are made Bankrupt and publication of the fact that you are Bankrupt. Other issues that must be considered including international travel restrictions, possible professional restrictions and the potential to make income contributions to your bankrupt estate for the period of Bankruptcy.

Part X

There are alternatives to Bankruptcy set out in provisions of the Bankruptcy Act which allows an individual to make a Personal Insolvency Agreement (PIA) with their Creditors to resolve their personal debts.

A PIA is an agreement with creditors describing the manner in which you will satisfy your debts in a fair and equitable manner.

The PIA may help avoid some of the restrictions of bankruptcy and be a positive means to avoid Bankruptcy.

Debt Agreements

A legally binding arrangement between you and your creditors to repay your debts. There are debt, asset and income thresholds that apply but provides a mechanism to repay over an agreed period of time.

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