PIAs guarantee engagement with decision-makers in debt cases

When a personal insolvency arrangement is proposed, bankruptcy proceedings can be halted to allow the debtors take advice from a personal insolvency practitioner. Picture: Posed by models

In one landmark case, the family home was not in negative equity, the farmer and his wife were aged 65 years.

The farmland was in distress but had equity. In this case, not only did the lender appoint a receiver, but it also petitioned for the bankruptcy of the farmer and his wife.