ARE YOUR FINANCES GETTING OUT OF CONTROL?
If you are struggling with personal debts, you are not alone. Take back control of your finances and start fresh by seeking professional help – don’t ignore the warning signs of financial distress.
Our team understands that every situation is different, so we will ensure you understand all your options when navigating through debt.
Here at Australian Insolvency Services, we can provide you with 3 personal debt solutions.
Personal Insolvency Agreements are also known as a Part 10 or Part X. It is a legally binding agreement between you and your creditors. It serves as a formal arrangement to settle your debts in order to avoid bankruptcy.
A Debt Agreement is an arrangement which you enter into with your creditors to settle most unsecured debts. Once you successfully complete your obligations under the agreement, you can become completely debt free.
We always try to find the least severe financial solution before we consider Bankruptcy. If you are not eligible for an alternative solution and wish to file for bankruptcy, it is important to understand what bankruptcy will mean for you.
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WHAT IS A PERSONAL INSOLVENCY AGREEMENT?
A Personal Insolvency Agreement is an agreement you can reach with your creditors if you can no longer afford to repay the debt. Only people who have been struggling with debt for some time can enter into a Personal Insolvency Agreement. It allows you to pay your creditors an agreed amount over a period of time (usually this ranges from 3 to 5 years).
WHAT IS A DEBT AGREEMENT?
A Debt Agreement is a legal alternative to bankruptcy. It is a formal agreement with your creditors to pay an amount that you can afford. This arrangement is typically supervised by a registered Debt Agreement Administrator.
OPTIONS TO AVOID BANKRUPTCY
Personal bankruptcy is the legal process for individuals who cannot pay their debts.
Before you proceed with personal bankruptcy, you need to be aware of the consequences and restrictions which will be placed on you.
WHAT IS A PERSONAL INSOLVENCY AGREEMENT?
A Personal Insolvency Agreement is an agreement you can reach with your creditors if you can no longer afford to repay the debt. Only people who have been struggling with debt for some time can enter into a Personal Insolvency Agreement. It allows you to pay your creditors an agreed amount over a period of time (usually this ranges from 3 to 5 years).
WHAT IS A DEBT AGREEMENT?
A Debt Agreement is a legal alternative to bankruptcy. It is a formal agreement with your creditors to pay an amount that you can afford. This arrangement is typically supervised by a registered Debt Agreement Administrator.
OPTIONS TO AVOID BANKRUPTCY
Personal bankruptcy is the legal process for individuals who cannot pay their debts.
Before you proceed with personal bankruptcy, you need to be aware of the consequences and restrictions which will be placed on you.
