The relevant statutory provisions for Debt Agreements can be found at Part IX of the Bankruptcy Act 1966.
Debt Agreements were introduced as a form of insolvency outside bankruptcy for lower income consumers. The mechanisms under the Act provide for a simple form of insolvency.
The Australian Financial Security Authority (AFSA) is the government body that registers and deals with debt agreements.
Debt Agreements are recorded by AFSA on the National Personal Insolvency Index (NPII).
Australian Legislation For Debt Agreements
Understanding the Australian legislation for debt agreements doesn’t have to be hard. You just need to work with or consult with a professional with the experience it takes to educate you with the facts regarding Debt Agreements.
Simply get in touch with Astute Debt Agreements and learn more about the amazing services we offer, and ask our team how we can help you.