Registered Debt Agreement Administrators are highly regulated by the Australian Financial Securities Authority (AFSA).
A Debt Agreement can be proposed by a debtor who has:
- Not been bankrupt, utilised a debt agreement or given an authority under Part X (PIA) of the Bankruptcy Act in the last 10 years.
- After tax income of less than $83,756.40 ($1,610.07 per week)
- Unsecured debts of less than $111,675.20
- A person cannot propose a debt agreement if their divisible property is more than $111,675.20