What is personal insolvency?
Personal Insolvency, also known as Bankruptcy, is a difficult situation that many people find themselves in when they can’t pay their debts.
The term ‘insolvent’ applies to this type of person and means unable or unwilling to settle debts when they are due or reach a suitable insolvency agreement with their creditors to pay their debts.
Insolvency, more commonly known as Bankruptcy, is a process where individuals can stop paying their unsecured debts, like credit cards and loans.
This type of bankruptcy is an option for people who find themselves financially stranded with no way out because they’re unable to pay the amounts they owe on unsecured debt, including credit cards, personal loans, shortfalls, and even tax debt.
At the Insolvency Advisory Centre we can help you navigate your way out of debt and to financial freedom.
Andrew Bell Insolvency Advisor
Let’s Talk
With over 30 years of experience in debt solutions, personal insolvency, and bankruptcy in Australia, Andrew can find a solution for you.
“Nothing is more satisfying to me than knowing that I’ve helped someone get back on their feet by guiding them through the insolvency process. Rest assured, you’re in good hands with me as we solve your financial problems together.”
