ITSA Registered Debt Agreement Administrator
Debt Free is a Registered Debt Agreement Administrator (Reg. No. 1098) and is regularly inspected by ITSA.
Archive | Bankruptcy
Statement of Affairs
When you become bankrupt you will need to complete a Statement of Affairs. If you do not complete a Statement of Affairs you will be bankrupt indefinitely. A Statement of Affairs is a summary of the financial position and person details. The financial position will include:
details on your Assets
details on your liabilities
income details
Part B of [...]
Continue reading...8 year Bankruptcy
16/02/10
Learn how your bankruptcy term can be extended for up to 8 years (ie extended by 5 years from the standard 3 year bankruptcy time period).
A Trustee in Bankruptcy is entitled to extend a bankrupt’s term of bankruptcy to 8 years if any of the following requirements are contravened:
you entered into a transaction which was [...]
Continue reading...5 year Bankruptcy
16/02/10
Learn how your bankruptcy term can be extended for up to 5 years (ie extended by 2 years from the standard 3 year bankruptcy time period).
A Trustee in Bankruptcy is entitled to extend a bankrupt’s term of bankruptcy to 5 years if any of the following requirements are contravened:
when bankrupt, you left Australia without permission [...]
Continue reading...Act of Bankruptcy
16/02/10
If you commit an Act of Bankruptcy, a creditor can petition the appropriate Court in your jurisdiction to make you bankrupt.
The most common type of Act of Bankruptcy, is the non-compliance of a Bankruptcy Notice. Other Acts of Bankruptcy is to propose a Debt Agreement or to propose a Personal Insolvency Agreement by signing a [...]
Bankruptcy
16/02/10