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Managing debt can be overwhelming, but a Part 9 Debt Agreement offers a structured way to regain control. Designed to help individuals struggling with unmanageable debt, this formal arrangement provides relief while protecting your assets. 

At Mackay Goodwin, our experienced, nimble team ensures a smooth process from start to finish, giving you peace of mind and a fresh financial start.

What Is a Part 9 Debt Agreement?

A Part 9 Debt Agreement, also known as a Part IX Agreement, is a legal alternative to bankruptcy under the Bankruptcy Act 1966. It consolidates your debts into a single manageable repayment plan, negotiated with your creditors.

This agreement is ideal for individuals who cannot meet their financial obligations but want to avoid the long-term consequences of bankruptcy. With a Part 9 Agreement, you can simplify repayments, protect your assets, and take a significant step toward financial stability.

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Key expert in key moments.

Finances can get out of control at times. We’re in the business of getting you back on the front foot. Our in-house registered Trustee, Thyge Trafford-Jones specialises in managing the unmanageable. He works to get you on a path to financial freedom.

Who Can Benefit From a Part 9 Debt Agreement?

If you’re facing financial challenges like overwhelming debts, frequent creditor demands, or unpaid bills, a Part IX Agreement may be the right solution.

This option is particularly beneficial for those who:

  • Want to avoid bankruptcy.
  • Have unsecured debts and meet the eligibility criteria.
  • Need a structured repayment plan to regain control of their finances.

By choosing a Part 9 Agreement, you can reduce financial stress, stop legal actions, and create a path to recovery.

How Does a Part Nine Debt Agreement Work?

The process involves four key steps:

  1. Eligibility Assessment: We evaluate your financial situation to determine if you qualify for a Part IX Debt Agreement.
  2. Proposal Creation: A repayment plan is drafted, outlining affordable terms for you and your creditors.
  3. Creditor Approval: Creditors vote on the proposal; once approved, it becomes legally binding.
  4. Repayment and Completion: You make regular payments under the agreement until the terms are fulfilled.

With Mackay Goodwin guiding you through every stage of the debt 9 agreement, the process is transparent and manageable.

Benefits of a Part IX Agreement

A Part 9 Debt Agreement offers several significant advantages, making it an effective solution for managing unmanageable debts. It simplifies multiple debts into a single, manageable repayment plan, providing much-needed clarity and ease. 

By stopping creditors from taking legal action, it offers essential legal protection while safeguarding important assets such as your home, car, or other belongings. 

Repayments are tailored to your income, ensuring they remain affordable and achievable throughout the process. Additionally, a Part IX Agreement provides a less severe alternative to bankruptcy, with a shorter impact on your credit file, allowing you to regain financial stability more quickly.

Part IX Agreements & Mackay Goodwin?

When it comes to Part 9 Debt Agreements, Mackay Goodwin stands out for our expertise and commitment to delivering results:

  • Experienced Practitioners: With decades of experience, our team knows themeaning of part 9 debt agreements, and are able to navigate complex financial situations.
  • Custom Solutions: We tailor every agreement to fit your specific financial needs and goals.
  • Comprehensive Support: From insolvency, company restructures, director penalty notices to corporate debt restructuring, we offer a full suite of services to address financial challenges.
  • Quick Action: We understand the urgency of debt relief and work swiftly to put solutions in place.

Flexible Repayment Options for a Sustainable Future

A Part 9 Debt Agreement offers flexibility in structuring repayment terms, ensuring they align with your financial capacity. Whether your income is fixed or fluctuating, the agreement can be adjusted to accommodate your circumstances, making it easier to stay on track. 

This tailored approach not only supports your recovery but also helps you rebuild financial confidence with manageable commitments.

A Long-Term Solution, Not a Quick Fix

Unlike short-term debt relief strategies, a Part IX Agreementprovides a sustainable path toward financial stability. By addressing the root causes of your debt and offering a structured plan, it sets the foundation for long-term recovery. 

You’ll gain the tools and insights needed to avoid future financial pitfalls, empowering you to make informed decisions and secure a more stable future.

Understanding What a Part 9 Agreement Is: Your Next Steps

If debt is taking over your life, don’t wait—contact Mackay Goodwin today. 

Our experienced team will assess your situation, explain your options, and help you take the first step toward a brighter financial future. Whether it’s voluntary administration or business restructuring, we create bespoke solutions.


Start by booking a free consultation to learn how a Part IX Debt Agreementcan help you simplify your repayments, protect your assets, and regain control.

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FAQs - Part 9 Debt Agreements

A Part 9 Debt Agreement is a formal arrangement that consolidates your debts into one manageable plan, tailored to your financial situation. It offers an alternative to bankruptcy while protecting your assets.

Unlike bankruptcy, a Part 9 Agreement allows you to retain control of your assets and has a shorter impact on your credit file. It’s a less disruptive way to manage unmanageable debts.

To qualify, you must have unsecured debts and income below specific thresholds. Our team can evaluate your situation to confirm eligibility and guide you through the process.

The length of the agreement depends on the repayment terms negotiated with creditors, typically lasting 3–5 years. Our team ensures the plan is manageable and achievable within this timeframe.

Get in touch

Speak to one of our experts now for a free consultation.
Enter your details below or call 1300 750 599.

x

Get in touch

Speak to one of our experts now for a free consultation.
Enter your details below or call 1300 750 599.