A part 10 is another name for a particular personal insolvency agreement, aimed at those individuals that have large debts and wish to avoid bankruptcy.
Personal insolvency or bankruptcy is for individuals who are insolvent, a technical term which means that they are unable to pay their personal debts to their creditors. If you are dealing with high levels of personal debt, or have severe financial stress, it is important that you contact experienced consultants who can give you options when it comes to personal insolvency and voluntary bankruptcy.
A Personal Insolvency Agreement under Part 10 (Part X) of the Bankruptcy Act will allow you to repay your creditors a higher return than they would normally receive, should you declare bankruptcy.
Personal Insolvency Agreements, like Debt Agreements, can benefit your financial future; however it is important you seek expert advice in order to manage your debt according to your circumstances.
At Part 10 Agreement we understand how stressful and daunting it can be to confront personal insolvency. So we make it our goal to work you to identify issues, risks and decisions to manage the financial impacts for your stakeholders, future business and individual financial standing.
Give Part 10 Agreement a call on 1300 60 70 60 today and get your financial future under control.