SRMC Group is Credit Counsellors’ preferred Debt Agreement Administrator and Trustee. Operating since 1999, SRMC’s experience is the foundation of its industry-renowned qualifications as a founding member of PIPA. SRMC also holds membership with INSOL International, and our Senior Director is a fellow of ARITA. Since its inception, SRMC Group has worked with stakeholders ranging from financial advisors, accountants, lawyers, commercial clients, and individuals. We treat every case on its own merits, taking a logical and empathetic approach to managing the impacts of insolvency legislation on both debtors and creditors.
o Insolvency Options
There are limited options for those facing personal insolvency, and the legal ramifications can vary greatly. Therefore, it’s important that clients receive the right advice to make sure they get the best outcome!
- Debt Negotiation – We negotiate with major Australian creditors, every single day. This experience saves our clients from the mistakes, uncertainty, and stress that arises with the intricacies of debt negotiation!
- Part IX (9) Debt Agreement – A flexible way to come to an arrangement to settle debts, without becoming bankrupt. Subject to regulated debt, asset, and income limits.
- Part X (10) Personal Insolvency Agreement –Similar to a Part 9, but with more flexibility in some areas, and less flexibility in others. Usually stricter treatment of assets.
- Bankruptcy – Lasting for 3 years and 1 day, bankruptcy can release individuals from most debts, provide relief and allow them to make a fresh start. Bankruptcy is no small matter, but it’s not the end of the world.