Part X Arrangments​


Part X Arrangments

For those who have large debts and wish to avoid 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 if you were to declare bankruptcy.

Personal Insolvency Agreements, like Debt Agreements, can benefit your financial future; however, it is important that you seek expert advice in order to manage your debt according to your circumstances.

Part X Arrangments​
Australian Money

At All Debt Solutions we understand how stressful and daunting it can be to confront personal insolvency.We make it our goal to work closely with you to identify issues, risks and decisions to manage the financial impacts for your stakeholders, future business and individual financial standing.

Other important information on PIA’s:

  1. There are no debt, asset or income limits to be eligible for a PIA.
  2. The length of your PIA will depend on what you negotiate with your trustee and creditors.
  3. You may retain your assets (such as house or car) if the terms of the agreement allow.
  4. There are some debts you may no be released from

This gives the former bankrupt a ‘fresh start’, and free from all debts covered under the bankruptcy act that occurred before their bankruptcy.