Document Actions
SIO
Summary Instalment Orders provide debtors experiencing financial difficulties with the option to repay all or some of their debts over a period of three years (or up to five years where special circumstances exist).
![[icon] Further information.](./medicons/med_icon_furtherinfo.gif "[icon] Further information.")
Further information
Learn about Summary Instalment Orders
People experiencing financial difficulty have a number of options available to them. One option is to apply for a Summary Instalment Order (SIO) which allows the payment of creditors in full or part over time.
What happens to my debts?
Once you have successfully applied for a Summary Instalment Order (SIO), your creditors will not be able to pursue you for payment of debts included in the order. Some debts cannot be included and you will remain responsible for paying them.
What happens to my assets?
Including the sale of assets and application of any sale proceeds to creditors may increase the likelihood of creditors accepting your Summary Instalment Order proposal.
Frequently asked questions on Summary Instalment Orders
A Summary Instalment Order is a formal process that prevents creditors from taking action to recover debts provided that the debtor makes regular repayments to their creditors.
Information for Summary Instalment Order supervisors
Supervisors of Summary Instalment Orders under the Insolvency Act 2006 need to be approved by the Official Assignee. Supervisors are subject to a number of duties and where those duties are not fulfilled, there is provision for the Official Assignee to appoint a replacement Supervisor.
How do I apply for a Summary Instalment Order?
To apply for a Summary Instalment Order, you will need to provide the Official Assignee with certain information about your affairs and outline how you propose to satisfy all or part of your creditors' claims.
List of current SIO supervisors
A regularly-updated list of current approved Summary Instalment Order supervisors.
Variation of Summary Instalment Orders
Once a Summary Instalment Order (SIO) has been made, the debtor is required to meet its conditions. If the debtor’s circumstances change, there may be a need to change the terms of the order.
I want to object to a Summary Instalment Order
Creditors can lodge an objection to the making of a Summary Instalment Order (SIO) with the Official Assignee within 10 working days of receiving notice that a debtor has applied for a SIO to be made.
Information about Summary Instalment Orders made under the old legislation
As of 3 December 2007, the Official Assignee will be responsible for administering all NEW Summary Instalment Orders (SIOs). Existing SIOs will continue to be administered by the District Court.