A personal is considered insolvent when they do not have enough money to service their debts.
A Personal Insolvency Agreement (PIA) is a formal option available to help you deal with unmanageable debt.
A PIA may involve on or more of the following, which will result in creditors being paid in part or in full:
Impacts of entering into a Personal Insolvency Agreement:
Both individuals and businesses can become insolvent. Personal insolvency refers to the individual situation when a person can no longer pay their debts as they become due.
Similar to bankruptcy, there are varying reasons why a person becomes insolvent and quite often a combination of circumstances including but not limited to: personal relationship breakdowns; health concerns; loss of employment; debt issues etc.
Experience: At times of high stress, the peace of mind in knowing your financial future is in the hands of experienced experts can mean the world.
Expertise: Entering into an effective PIA that provides the best possible solution for you and your financial future is our highest priority.
Ethics: Our confidential and professional service will provide you with the answers you need to make informed decisions about your financial future.
In a few steps our team can help make sense of your situation, formulate a plan that’s right for you and put it in place to achieve a solution that achieves your financial future free from unpayable debts.