Personal
Personal Repayment Plans and Debt Relief Orders
Structured solutions to help individuals address unsustainable debt.
What does this entail?
Personal Repayment Plans and Debt Relief Orders are formal, structured processes that allow individuals facing financial difficulty to reach an agreed settlement with their creditors. These arrangements are designed to provide an alternative to bankruptcy, enabling individuals to restructure their debts under a legally recognised framework while retaining greater control over their financial affairs.
Personal Repayment Plan, involves the preparation of a proposal setting out how debts will be managed or repaid over an agreed period, subject to creditor approval, supervision of the court and ongoing compliance with the agreed terms.
Get in Touch
Chris Iacovides
Chief Executive Officer
Andri Antoniou
Director - Licensed Insolvency Practitioner
Marios Kofteros
Director - Licensed Insolvency Practitioner
When is it appropriate?
This option is appropriate where an individual is experiencing financial distress but wishes to avoid bankruptcy and has the ability to make structured contributions towards their liabilities. It may be suitable where debts have become unmanageable due to changes in personal circumstances, income disruption or accumulated financial obligations.
These arrangements are often considered where a cooperative solution with creditors is achievable and where a structured repayment plan offers a more appropriate outcome than formal bankruptcy proceedings.
How we can help
CRI Consulting will accept instructions and assist with Personal Repayment Plans where the debtor’s affairs are complex and include valuable assets and excessive liabilities.
Next steps
Contact our team for an initial, confidential discussion to explore whether a Personal Repayment Plan may be appropriate for your circumstances.
Key Benefits
A structured alternative to bankruptcy
- Formal agreement with creditors
- Greater control over personal financial affairs
- Clear framework for managing and resolving debt
Experienced, Trusted Advisers
Our services are delivered by experienced, qualified professionals who follow a structured and transparent process, from initial assessment through to implementation. We combine technical expertise with a practical approach to ensure each engagement is managed professionally and focused on achieving appropriate outcomes for all stakeholders.