Frequently Asked Questions

Can I become bankrupt if I am in a Debt Agreement?

No. The Debt Agreement must be terminated for you to be able to apply for bankruptcy.

This is normally not a problem, you ask the Debt Agreement administrator to terminate it. If the administrator will not do as you ask, stop making the payments that are required by your debt agreement. This normally works.

Bankruptcy will remove all your debts that are caught in it. This would include all monies left owing from your Debt Agreement and most, if not all debts you have accumulated subsequent to entering into the agreement.

We are here to help. If you have any questions please give us a call on 1300 764 197
or email hello@understandingbankruptcy.com.au

Further Reading: We recommend our article 'Types of debt covered by bankruptcy' and 'What is Bankruptcy? How Does it Work?'.

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