Part IX Bankruptcy

Part IX of the Bankruptcy Act 1966 does not mean Bankruptcy!

By entering into a debt agreement under Part IX of the Bankruptcy Act 1966 you can avoid the stigma of full Bankruptcy and you will make a contribution to the unsecured creditors who gave you credit.

We are here to help you overcome your struggle with all of your UNSECURED CREDITORS (unsecured simply mean a creditor who does not have a hold over the credit given).

As a registered Trustees we are qualified and committed to solving your financial hardship with your unsecured creditors.

There are qualifying conditions for which your income and possessions are protected from your creditors. To enter into a Debt Agreement under Part IX

Click here for a list of ADVANTAGES OF PART IX or for a do it yourself assessment please see our specialty internet site at www.bankruptcyadvice.com.au

If you do fall within these limits then Part X of the Bankruptcy Act 1966 might be suitable.

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If You Wish to Proceed...

Step 1

Contact our qualified, trained team specialising in Part IX of the Bankruptcy Act 1966.

Then together we will work out the following details:

• who are your unsecured creditors (your own or joint with another person)
• how much your unsecured creditors are owed - each and in total
• what are the contact address of all of your creditors
• is your budget working
• how much can you afford to contribute towards your debts and over what period?

Step 2

• Your Debt Agreement Proposal and Statement of Affairs is submitted to the Official Trustee. He then writes to all creditors and asks them to vote on your Proposal. Creditors are in the comfort of their own office at the time of making a decision. Creditors are also given 25 working days to consider your Proposal. All creditors are free to discuss any queries with us.
• During the 25 day period your unsecured debts become frozen and you are given the opportunity to put aside money for future payments to your creditors.
• For the Proposal to be accepted a majority of creditors and 75% in value of those voting must be in favour of your proposal.
• Upon acceptance you make your contributions (weekly/monthly etc) for the term of your Debt Agreement.
• Once the conditions of your Debt Agreement are finalised you are released from all debts listed in your Debt Agreement Proposal.

PLEASE CONTACT US NOW

WE HAVE A FULLY EXPERIENCED TEAM WHO ARE TRAINED TO GIVE YOU ASSISTANCE IN REPAYMENT (PARTIAL OR FULL) TO YOUR CREDITORS OVER A PERIOD DESIGNED TO SUIT YOU, WHILST GIVING A RETURN TO YOUR UNSECURED CREDITORS

DISTANCE IS NO BARRIER WE ARE AVAILABLE FOR YOU!

CONTACT US OR GIVE US A CALL OR SEND A FAX, WE WILL GET RIGHT BACK TO YOU!

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