Amidst all the stress and confusion of trying to find a solution for your debt problems, it can sometimes be hard to figure out exactly what you are being offered, and whether or not it is the right solution for you. This is especially true when you are being offered advice from a number of different sources, some of which ...

What is a Debt Agreement? A Debt Agreement is a formal arrangement that you can enter into with your creditors that will allow you to settle your debts with a legally binding payment plan. It effectively freezes your debt at the level it is at now, meaning that no more interest or charges are added, and you will offer your ...

If you have received a local or district court judgment for a debt which is more than $5,000, then it is possible that the creditor chasing you for payment will then apply to the Official Receiver at AFSA for a bankruptcy notice to be issued against you. What is a bankruptcy notice? A bankruptcy notice is a formal notice issued ...

A Debt Agreement is a type of formal arrangement that allows debtors who have unmanageable unsecured debts to repay the creditors a portion of their unsecured debts back. If you are not able to repay your debt, and have not been able to for some time, then you may be eligible for a Debt Agreement. When deciding the debt agreement ...

What are the consequences of proposing a PIA? Before deciding to propose a Personal Insolvency Agreement (PIA), it is important that you also understand the consequences of entering into one. Firstly, by appointing a Controlling Trustee, you will commit an Act of Bankruptcy. So if your proposal for a PIA is not accepted by your creditors, they can then apply ...

For many people, being insolvent has no impact on their employment whatsoever. If you are an employee, ie you are not running your own business, and you do not need to a trade or professional license to do your job, there should be no reason why your employment should be affected by an act of bankruptcy. But we always recommend ...

Filing for bankruptcy should always be considered as the last resort if you are overwhelmed with unsecured debt. Before making a potentially life changing decision, we will carefully go through all of your options to see if you can avoid bankruptcy.  The options we will explore include:  Negotiating an informal arrangement with your unsecured creditors; entering into a formal Debt Agreement (Part ...

Who should I appoint as my Administrator? Whilst you can submit a Debt Agreement Proposal yourself, most people choose to appoint a Registered Debt Agreement Administrator. We strongly recommend that you only deal with a Registered Debt Agreement Administrator who has a sound reputation and experience in the industry. Furthermore, it is advisable that you deal with an administrator who is qualified ...