Personal Insolvency
Every financial situation is unique, which is why we develop customised solutions to help individuals and families find the best path forward.
McLeod’s specialises in personal insolvency, offering expert advice and assistance to those facing financial challenges. Our services cover both formal and informal insolvency processes, including support with:
Bankruptcy
Individuals who are unable to repay their debts have the option to voluntarily declare bankruptcy, or a creditor may petition the Court to initiate bankruptcy proceedings. We provide expert guidance on navigating bankruptcy and professionally administer bankruptcy appointments.
Informal Arrangements & Settlements
Our team assists individuals in negotiating debt settlements or resolving legal claims they are unable to pay. Successfully reaching an agreement can help avoid bankruptcy or other formal insolvency proceedings.
Personal Insolvency Agreements
Similar to Part IX Debt Agreements, Personal Insolvency Agreements offer an option to avoid bankruptcy by presenting a repayment proposal to creditors. We specialise in advising on and administering these agreements.
General Advice & Assistance
We offer specialised financial guidance for individuals facing difficulties, including tax obligations, credit card debt, loans, and liabilities arising from personal guarantees.
Part IX Debt Agreements
For individuals who meet certain financial thresholds, a Part IX Debt Agreement provides an alternative to bankruptcy. This arrangement allows a person to propose a repayment plan to creditors, potentially avoiding formal insolvency.
Section 73 Compositions
Bankrupt individuals may propose a repayment arrangement to creditors, which, if accepted, results in the conclusion of their bankruptcy.
Expert Guidance to Navigate Financial Challenges
If you're seeking professional advice to avoid bankruptcy or need support managing your bankrupt estate, McLeod’s is here to provide the expertise and assistance you need every step of the way.