Personal Insolvency Agreement

Alternatively to a Debt Agreement, a Personal Insolvency Agreement is also a legally binding agreement between you and your creditors. It is an alternative option to bankruptcy. While both options are Agreements to satisfy debts, there are several differences.

A Personal Insolvency Agreement requires a Trustee to administer the entire process. Our team will refer you to a qualified Trustee that has helped individuals with financial stress through Personal Insolvency Agreements.

When engaged in a Personal Insolvency Agreement, a Trustee will assess your situation and make a formal offer to creditors on your behalf. The offer will either pay all or part of your debts in order to relieve you of your financial obligations to these creditors. There are no eligibility requirements to enter into a Personal Insolvency Agreement. The Trustee will negotiate on your behalf with your creditors to determine the length of the agreement and the payment required to settle the debts. A Personal Insolvency Agreement typically allows you to retain the majority of your assets such as your house and car.

If you feel a Personal Insolvency Agreement may be suitable for you, call our team on 1800 463 328 and we will refer you to an expert and qualified Trustee.