Online Debt Assessment Tool

Recent Articles

Bankruptcy Act – Statutory Thresholds
The Bankruptcy Act contains statutory thresholds concerning [...]
One if five cases choose debt over bankruptcy
Bankruptcy levels in the past financial year [...]
ITSA Bankruptcy Statistics 2008/2009
The Insolvency Trustee Service Australia has released [...]
2009 Bankruptcy Legislation Amendment Bill passed by Parliament
The Australian Parliament passed the 2009 Bankruptcy [...]
Bankruptcy Legislation Amendment Bill 2009
The Attorney General released draft legislation on [...]

Case Studies

I had sleepless nights before speaking to Debt Free
Life had become difficult. Sleepless nights, panic attacks [...]
I was convinced I would have to go bankrupt
I had tried to maintain payments to my [...]
I thought a consolidation loan might help
… after debt problems had built up while [...]
Good debt advice was really hard to find
… and I was desperate after my boyfriend [...]
Both of us dreaded the thought of bankruptcy
… and what it could do to us. [...]
I was sure I’d need a big loan
… because it seemed the only way to [...]

Debt Agreement thresholds

The Debt Agreement thresholds are indexed in accordance with the Consumer Price Index (CPI).

The Debt Agreement thresholds are currently:

Unsecured creditors < $88 379.20; or
Assets < $88 379.20; or
Income < $66 284.40 (after tax) or approximately $88,379 (before tax for Australian residents)

If you exceed these limits you will be ineligible for a Debt Agreement and will need to consider a Personal Insolvency Agreement.

The statutory thesholds are maintained by ITSA.