Case study

How Kelly wiped over $215,000 in ATO debt and protected her home and business

Part X (10) Personal Insolvency Agreement
Initial debt
$350,000
Outcome
Debt free
in five years

Key results at a glance

Results that speak for themselves
$350,000
Total ATO debt managed
~$215,320
Total debt reduction
1
Affordable weekly repayment

The challenge

Despite having a viable business and correcting her financial habits for the future, the sheer size of Kelly’s historical ATO debt threatened everything she had built.

Mounting tax debt

Without a proper system for setting aside tax funds, Kelly accumulated nearly $350,000 in ATO liabilities over several years.

Assets at risk

She jointly owned real property and motor vehicles, all of which were highly vulnerable to collection action if the situation escalated.

Business continuity

Her tiling business was her sole source of income, meaning any aggressive debt recovery or bankruptcy proceedings would severely impact her ability to earn a living.

Lack of a resolution framework

While Kelly had a plan for the future, she needed a formal, binding agreement to deal with the existing ATO debt without losing her tools of trade.

The solution

Considering her financial worth and desire to keep trading, we identified that a Personal Insolvency Agreement (PIA) was the most strategic path forward.

Comprehensive financial assessment

We evaluated her business structure, income capacity, and the value of her jointly owned assets to determine a realistic and legally sound resolution.

Strategic protection

We recommended a PIA to provide immediate relief from the ATO while safeguarding her home, vehicles, and business operations.

Favourable creditor negotiation

We structured a proposal where creditors would receive a return of 25 cents in the dollar—a significantly higher and fairer return than the estimated 8 cents they would receive in a bankruptcy scenario.

Tailored repayment structure

We negotiated a manageable five-year plan with average weekly instalments of $518, allowing Kelly to trade profitably without the worry of ATO debts consuming her cash flow.

Why this approach worked

Getting started is easy and straightforward

Reason 1

Significant debt reduction and asset protection

By establishing the PIA, we successfully wiped approximately $215,320 (over 60%) of Kelly’s ATO debt. Crucially, this agreement secured her jointly owned home and motor vehicles, entirely removing the risk of forced asset sales.

Reason 2

Business continuity

Because a PIA does not carry the same strict trading restrictions as bankruptcy, Kelly was able to continue operating her tiling business. Consolidating her overwhelming tax obligations into a single, affordable weekly payment meant her profits were protected moving forward.

The result

Kelly successfully executed a Personal Insolvency Agreement, removing the immediate threat to her livelihood and personal assets. With over $215,000 of debt wiped and a clear, five-year instalment plan in place, she secured her financial future while confidently continuing to run her tiling business.

Before
After
Improvement
Total debt
$350,000
~$134,680
~$215,320 reduced
Repayments
Unmanageable ATO demands
1 consolidated weekly plan ($518)
Affordable, predictable cash flow
Asset status
Home & vehicles at high risk
100% of assets safely retained
Secured financial future
Business operations
Profits threatened by ATO
Trading continues normally
Livelihood and tools protected

Additional benefits

A comprehensive approach to your financial recovery

Avoided the severe professional and personal restrictions associated with declaring bankruptcy

Provided a much fairer financial return to creditors

Mental clarity and the complete removal of constant stress from looming ATO actions

A structured, predictable five-year pathway to completely resolving her historical tax liabilities

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⭐⭐⭐⭐⭐ I can’t thank Revive Financial and especially my consultant enough for the support and guidance throughout my Debt Agreement. From the beginning, the process was explained clearly and I always felt like I had someone there to answer my questions and help me through what was a very difficult financial period. The communication, professionalism and understanding I received made such a stressful experience feel much more manageable. Today, having made my final payment and officially completed my Debt Agreement, I feel an incredible sense of relief and achievement. It’s a huge weight off my shoulders and feels like a fresh start financially. I’m extremely grateful for the assistance I received from Revive Financial and would happily recommend them to anyone who may be struggling financially and needs someone supportive and understanding to help them get back on track. Thank you again for helping me get to this point. 5 stars without hesitation! ⭐⭐⭐⭐⭐

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Incredibly supportive, friendly and helpful team who remained transparent about my current position. I would highly recommend and I appreciate their excellent skills and dedication. They helped relieve me of the worries and pressures debt can have, giving me incredible financial freedom again.

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I was desperate. I had made major mistakes with my finances and didn’t know where to turn. Then I read online about Revive. I rang, filled out the documents, talk to Sonia and things looked brighter – there could be a way out of the mess I had got myself in. Over the weeks Sonia was incredibly positive, extremely capable and now the process is over. I’ve been told that things will be better, possibly even more positive than I could dream. Revive( especially Sonia) thank you. Hopefully life will be less stressful and happy because of you!!

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Nicole
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Thanks to revive financial for explaining how what they needed from me and how they could help me with my application I now have room to pay my bills on time

Kevin Harrison
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Yes. From the moment my debt payment plan was approved, my experience with Revive Financial has remained very positive. Their case managers understand the human side of financial hardship and are always considerate, supportive and willing to discuss alternative arrangements when needed. The flexibility and consistency of their payment arrangements gave me the opportunity to stay on track and ultimately pay off my debt. I genuinely appreciate the support I received and would highly recommend Revive Financial to anyone experiencing financial hardship and looking for a compassionate and flexible service. Keep It Up

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