The 2010 bankruptcy reforms were designed by Labor to encourage more insolvent consumers into Part IX debt agreements and away from full bankruptcy. But debt agreements are a tight business to make money from and face bad press, and new competitors bypass the insolvency law altogether.Debt agreements are great for creditors, said Deborah Southon, director of Fox Symes, the leading debt administrator in Australia. "We have returned almost $100 million to creditors in the last two years; we have an 80 per cent acceptance rate."Since the reforms in 2007, the termination rate has dropped to about four per cent from about 23 per cent and banks and lenders are generally very supportive," said Southon. "There is a range of responses from creditors and there are lenders with specific requirements and some creditors are just fantastic, but generally I would describe creditors as supportive of part nines."There is so much regulation now of the industry, and that is a good thing, and so many got weeded out by the new training requirements in 2007. We are audited annually and subject to a lot of scrutiny by ITSA," said Southon. "And I'm happy that is the case."Fox Symes reported this year that it has not made any money from its debt agreement operations since 2007. Fox Symes has been supporting the debt agreements business with its growing mortgage broking and lending business, funded by Westpac.What will help the industry is that the maximum asset, debt and income thresholds are all going up 20 per cent to catch a greater slice of the middle class.