Who is eligible for a Part 9 Debt Agreement in Australia?

Eligibility for a Part 9 Debt Agreement depends on your financial situation. To qualify, you must meet certain criteria:
Be an individual (not a company).

Have unsecured debts below a specified threshold (currently around $100,000, excluding certain debts like fines and child support).

Be unable to pay your debts as they fall due.

Have assets and income sufficient to support a structured repayment plan.

This type of agreement is suitable for people overwhelmed by credit cards, personal loans, or payday loans, but who still have a regular income and can commit to a reduced, manageable repayment plan.
Once approved, the Part 9 Debt Agreement protects you from legal action and creditor harassment, making it a practical and safer alternative to bankruptcy for many Australians. Seeking guidance from an experienced debt consultant can help you determine if you are eligible and navigate the application process efficiently.