Personal Solutions


There are a number of reasons why someone can be overcome with financial debt. On average, more than 20,000 individuals enter some type of personal insolvency each year. Find out how we can help you with our personal insolvency services.

What does insolvency mean?


Insolvency means an individual or entity (such as a company) can no longer pay its debts when they fall due. Insolvency can be personal (relating to an individual) or can be corporate (relating to a company). For each type of insolvency, there are different laws, rules and regulations that are applied.

The most common types of corporate insolvency are known as voluntary administration, liquidations and receiverships. The most common type of personal insolvency is known as bankruptcy and personal insolvency agreements.


If you are in the situation where you have unmanageable debt, it is important to seek professional advice immediately to maximise your options of financial recovery.

One option to resolve your debts is through a Personal Insolvency Agreement(also known as a Part 10 or Part X). A personal insolvency agreement is a legally binding agreement between you and your creditors. It serves as a formal arrangement to settle your debts in order to avoid bankruptcy.

There are important factors that you need to know when considering this option. We will assess your situation and discuss your options in order to achieve the best possible solution for your circumstances.


When an insolvent individual passes away leaving unresolved debt, it can not only be an emotionally devastating time, however it can also cause a financial burden on those involved.

An administration of deceased persons estate (Part XI under the Bankruptcy Act), allows for the realisation of assets of the deceased person in order to pay creditors for unpaid debt. SV Partners are able to address this situation with the professional advice and skills required to deal with all aspects of a deceased estate in a timely manner.


From our experience, we find that bankruptcy typically occurs when an individual prolongs their unmanageable debt situation without seeking professional advice early (or at all). Bankruptcy occurs in one of two ways; when an individual volunteers to become bankrupt (also known as a debtor’s petition) or involuntarily, when a creditor applies to the court to make an individual bankrupt (also known as a creditor’s petition). 

Bankruptcy is a legal process that protects an individual that is unable to pay all their debts and cannot reach any arrangement with their creditors. Although bankruptcy releases an individual of their debts, there are serious consequences of bankruptcy that they must be aware of.

As SV Partners operates one of the largest Bankruptcy Practices in Australia, we are highly qualified to discuss your situation and provide the right advice to achieve the best possible outcome for you.


When an insolvent individual passes away leaving unresolved debt, it can not only be an emotionally devastating time, however it can also cause a financial burden on those involved.

An administration of deceased persons estate (Part XI under the Bankruptcy Act), allows for the realisation of assets of the deceased person in order to pay creditors for unpaid debt. SV Partners are able to address this situation with the professional advice and skills required to deal with all aspects of a deceased estate in a timely manner.