ITSA Registered Debt Agreement Administrator
Debt Free is a Registered Debt Agreement Administrator (Reg. No. 1098) and is regularly inspected by ITSA.
Archive | Frequently Asked Questions
Transactions to Defeat Creditors
If a person enters into a transaction (prior to becoming bankrupt) with the prime purpose of the transaction is to defeat creditors (ie keep the money or property out of the reach of their creditors) then in certain circumstances the transaction (after bankruptcy) can be set aside by the Bankruptcy Trustee.
There is no time limit [...]
Private Registered Bankruptcy Trustee
18/02/10
A Private Registered Bankruptcy Trustee is a qualified insolvency specialist. Usually they hold a university degree in accountancy or commerce and are either members of the Institute of Chartered Accountants or CPA Australia. A Registered Trustee may also be a member of the Insolvency Practitioners Association of Australia.
All Registered Trustees must be registered with the [...]
Preference Payments
18/02/10
Preferences are payments or transfers that may be recovered by a Bankruptcy Trustee, in other words you must first become bankrupt before your Trustee could seek to recover any preference payment from any of your creditors. Only payments can be recovered where it can be established that the creditor received a preference or advantage over [...]
Continue reading...188 Authority
18/02/10
The 188 Authority initiates the process for a Personal Insolvency Agreement. A 188 Authority is irrevocable and upon signing a 188 authority, you commit an act of bankruptcy, which means if your proposal fails it will assist your creditors in petitioning for your bankruptcy (ie your creditors will not need to reply upon any other [...]
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Personal Insolvency Agreement
18/02/10