A debt agreement, also known as a Part IX, is a legally binding agreement between an individual and their creditors. Eligibility criteria applies in terms of the maximum debts, assets and income a person can have/earn. Whilst we have a working knowledge of debt agreements, we do not offer this service.

Part IX of the Bankruptcy Act provides for a debtor putting a proposal to their creditors regarding repayment of provable debts. Creditors will then vote as to whether to accept or reject the proposal. The proposal will specify the amount creditors will receive and the period over which the debtor will pay the total.