This is a flexible alternative to declaring voluntary bankruptcy and is a preferred choice for certain individuals.

A Personal Insolvency Agreement generally involves either lump sum payments to creditors (which could be via funds from a third or related party), regular repayments and / or the transfer or sale of certain assets that would not be available in a bankruptcy (or any combination of the above).

If approved by creditors and you meet your obligations, then you will be released from your debts and generally able to rebuild your life sooner.

Let us help you consider whether a Personal Insolvency Agreement may be the right alternative and if so, assist in you putting forward a proposal to your creditors as a viable alternative to bankruptcy.


  • Avoids the potential stigma and associated restrictions with bankruptcy and provides you with a flexible framework to deal with your financial difficulties.
  • Provides protection from creditors.
  • Provides a greater return to your creditors than would otherwise be available in a bankruptcy scenario.

A Personal Insolvency Agreement is also a legal process and therefore it is important to seek advice from a qualified professional about whether it is right for you.

Michael Jones and Bruce Gleeson are Registered Trustees and can act as Trustee. They both have significant expertise to ensure you receive right solution to deal with your financial position.

If you have evaluated all of your options to overcome insolvency, and have not been able to find a solution, you may have to consider filing for bankruptcy. This usually occurs if a creditor seeks a sequestration order from the Court, or you may declare yourself bankrupt voluntarily by completing and lodging the necessary forms.

• Provides a fair and equitable distribution of your estate to your creditors by personal financial advisory services;
• Enables you to obtain immediate relief from the pressure of all creditors and make a fresh start;
• Allows for an investigation of your financial affairs with the purpose of identifying transactions that are able to be set aside.

Michael Jones and Bruce Gleeson are Registered Trustees and are able to act as Trustee in the above circumstances. They have significant expertise to provide the most appropriate solution to individual situations.
Debt Agreements
Do you have credit card debts and or other personal loans you are unable to repay? You could consider a debt agreement as an option if you satisfy strict threshold requirements concerning the level of debts, assets and income required by legislation.

• Provides a low cost means of resolving insolvency;
• Once creditors have accepted the agreement you are released from their debts;
• Allows you the opportunity to re-build your life while making repayments to the Administrator.

Jones Partners can help you evaluate whether you meet the debt agreement criteria and whether this is the most appropriate solution you should consider given your circumstances.
Personal Insolvency Agreements
Are you insolvent, but don’t wish to file for bankruptcy? We can help you prepare a Personal Insolvency Agreement so you can reach an agreement with your creditors and settle your debts, without facing the emotional stress of calls from debt collectors.

• Provides a greater return to creditors than would be otherwise available under a bankruptcy;
• Avoids the stigma of bankruptcy and provides you with a flexible framework to resolve the solvency issues of the debtor and deal with creditors claims.
Informal Agreements
Do you wish to avoid the stigma of a formal personal insolvency and would like to seek help in meeting financial obligation to a small list of creditors?

This option is preferable if you are confident that an informal agreement will provide a better result to your creditors, than if you were considering a formal personal insolvency option, such as bankruptcy.

Informal Agreements are reached outside of the auspices of the Bankruptcy Act. It is critical in such circumstances to get all creditors to agree to such arrangements (or those that the individual expresses a desire to) in order to try and bind the creditors where possible. Whilst reaching these kinds of Agreements can avoid the stigma of a formal personal insolvency option, much care needs to be taken to ensure that it is appropriate for the individual and that the key objectives can be achieved.

• Agreement reached outside of the Bankruptcy Act and is typically appropriate when they be a small number of creditors;
• Avoids important registrations or licences being cancelled if you were to enter into a formal personal insolvency option such as bankruptcy.

We have worked with many individuals in determining the appropriateness of these kinds of Agreements and assisting them in the negotiating process.

Why we are trusted by clients

We take the time
to listen

We listen first and then act. Helping you is our first priority.

Helping you regain control

Control of your finances, your business and your life.

A client focused approach to Insolvency

Our role is to earn your trust and so you know you have someone on your side.