Personal Insolvency

At Cor Cordis, we recognise and understand that not all individuals are able to identify when they may be facing personal insolvency and how best to deal with it.

No matter the reason for personal insolvency, we have the experience and skill to explain the various options available under the Bankruptcy Act and provide the most effective option to each individual’s situation.


An individual can declare themselves bankrupt by completing the relevant documentation and the Registered Trustees at Cor Cordis can assist with this process.

A creditor may also bankrupt an individual by obtaining an order known as a Sequestration Order from the courts.

By appointing Cor Cordis, control of an individual’s estate is given to an independent person to take control of their assets and conduct relevant investigations for the benefit of all stakeholders.

Personal Insolvency Agreements (PIA)

This option allows an individual not to go bankrupt as its adoption permits the individual to reach an agreement with his/her creditors in full and final settlement of their debts.

Cor Cordis have worked with many individuals in achieving this process.

Debt Arrangements

This is similar to a PIA and mostly used by individuals that cannot repay credit card debts and personal loans.

Individuals who wish to propose a Debt Arrangement must meet specific thresholds in respect of debts, assets and income.

Informal Agreements

If successful, this option allows the individual not to enter into one of the earlier referred formal personal insolvency options.
The key is to get all creditors to agree to the proposal put forward and thus avoid the stigma of entering one of the formal personal insolvency options.
Cor Cordis have worked with many individuals in achieving this process.