A Personal Insolvency Agreement (PIA) is an excellent alternative to bankruptcy for those who stand to be particularly adversely affected by it, such as those with a property or who need to travel overseas often. Not only will a PIA help you save your house but it will also stop your creditors from forcing you into bankruptcy. So long as you maintain your mortgage repayments and complete your PIA your home should be safe. On the other hand however, during the PIA process travel and borrowing credit will be restricted.
For more information on Personal Insolvency Agreements and how ISA can help you to propose one, contact us today on 1800 003 883.