An insolvent debtor means somebody that cannot pay their debts as and when they fall due.
Some typically signs of insolvency may include:
- Cannot afford minimum repayments for all debts; or
- Somebody with many accounts in arrears; or
- Debts have been transferred to collection agents; or
- Debts have been referred to the courts for collection; or
- A Bankruptcy Notice has been issued against you.
Not all signs need to present for you to be considered to be insolvent.
You may complete our on-line debt advice module, which will help you establish the best debt solution for you, whether that is:
