options for individuals

Again solutions for individuals vary.  This page helps you understand some of the bankruptcy terms.  Again the option you take will depend on your situation.  Call me or send me a question I will explain the specific options in more details and what is likely to apply to your situation.  No obligation.

Insolvency Agreements

A Personal Insolvency Agreement (PIA) is where a person enters into an agreement with their creditors without being made bankrupt. Once the parties come to an agreement, the proposal is binding. A personal insolvency agreement enables a person and their creditors to come to a mutually agreed compromise in a relatively simple way without a Court.

Debt Agreement

A Part IX debt agreement is a legally binding agreement between a person and their creditors. A Part IX agreement involves a person proposing a deal with their creditors. The debt agreement proposal may be accepted or rejected by creditors. Debt Agreements are negotiated compromises. Some examples of the kinds of deals put in place are:

  • Payment of less than the full amount of a persons debts.
  • A moratorium on payment of debts.
  • A transfer of property to one or more creditors in full or part payment.
  • Periodic payments of amounts out of income to creditors.

Debt Management

If you are juggling repayments and debt, then help get your finances back under control. I have a number of options available to you which may include:

  • Dealing with your creditors.
  • Advice on how to manage and control your debts.


Bankruptcy is where declared unable to pay your debts.  When you become bankrupt you will be released from most of the debts.  It sounds appealing but comes with consequences.  Once declared, you will be a bankrupt for 3 years and a trustee will manage your financial affairs.

Dealing with Bankruptcy can be very stressful and overwhelming.  If you are considering bankruptcy let me help you.

Let me help

I will speak with you in-confidence.  The initial discussions and meetings are at no charge and without obligation.

Free call me on (02) 6214 6700 to discuss your specific situation.  If you prefer send me an email with your questions and I will help you.

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