In our opinion, insolvency through Debt Agreements including Part IX or Part X Debt Agreements and/or Bankruptcy is a last resort. In saying that, sometimes this pathway is the right choice. We highly recommend you exhaust all other avenues available to you before committing to such drastic action! Please feel free to use our FREE no-obligation Consult Call call to discuss if other options are available to you.
We invite you to consider the consequences of choosing bankruptcy or an act of bankruptcy as there are serious and long-lasting implications. There are often high costs involved with any type of bankruptcy, and usually Debt Agreements typically require large up-front payments. Usually, the timeframes involved range from 3 – 5 years (of being bankrupt). It’s a long time to wait to move on with your life, to maybe buy a home, a car or even to access services like phone and electricity accounts.
Being “bankrupt” and going through insolvency feels like a heavy weight on your shoulders and often keeps people in a negative “I’m bankrupt” frame of mind. Bankruptcy can affect your mental health and general wellbeing, not to mention your financial future. There could be another way available to you. For more information, please contact us for a free no-obligation Consult Call so that we can assess your individual financial situation and discuss how we can help.