Bankruptcy Advice from the Horse’s Mouth

What is a Debt Agreement?

A debt agreement, also known as a Part IX, is a legally binding agreement between you and your creditors, which can be a flexible way to come to an arrangement to settle debts without becoming bankrupt. The principles of a debt agreement are: – –        You negotiate to pay a percentage of your combined … Read more

What is the National Personal Insolvency Index (NPII)?

The National Personal Insolvency Index (NPII) is a publicly available electronic record of personal insolvency proceedings in Australia, which is maintained by the Australian Financial Security Authority (AFSA). The costs of conducting a search on the NPII is $15.00. If you have any questions on bankruptcy, call 1300 060 122 or email your question to, … Read more

What is a Bankruptcy Notice?

If you owe an individual or company (creditor) more than $5,000.00, they can apply for a Bankruptcy Notice, which is a formal demand for payment. This can only happen if they have a court judgment or order for the debt. A Bankruptcy Notice provides you twenty-one days to comply from the date it is served, … Read more

What is an undischarged bankrupt?

An undischarged bankrupt is a term used for an individual that is still bankrupt and bound by the obligations in bankruptcy. If you have any questions on bankruptcy, call 1300 060 122 or email your question to, and we will help you without charge or obligation. Remind us to also email our ebook to … Read more

What is bankruptcy?

Bankruptcy is the process for resolution of insurmountable debt. Our legislation is derived from England’s bankruptcy legislation. The English law came into place when they realised that persons with excessive debt are not criminals and it is a waste of resources to continue dealing with the unresolvable financial problem. It is in everyone’s best interest … Read more