ITSA Registered Debt Agreement Administrator
Debt Free is a Registered Debt Agreement Administrator (Reg. No. 1098) and is regularly inspected by ITSA.
Tag Archive | "Insolvency"
Bankruptcy Act – Statutory Thresholds
The Bankruptcy Act contains statutory thresholds concerning limits for: Income; Assets; and Unsecured debts These statutory thresholds will govern which personal insolvency product you may be eligible for and will also govern what assets you can retain in bankruptcy and whether you will become liable for statutory income contributions in bankruptcy. Income Contribution Calculator These thresholds are updated by ITSA [...]
Continue reading...One if five cases choose debt over bankruptcy
Friday, March 12, 2010
Bankruptcy levels in the past financial year were at their second highest on record but one in five struggling borrowers facing financial ruin chose to enter into a debt agreement rather than surrender their assets.This month marks the first anniversary of new laws that stop debt agreement administrators charging battlers upfront fees before creditors are [...]
Continue reading...ITSA Bankruptcy Statistics 2008/2009
Friday, March 12, 2010
The Insolvency Trustee Service Australia has released the 2008/2009 Personal Insolvency Statistics. The statistics reveal the following: 11% annual increase in total Personal Insolvency appointments 29% annual increase in Debt Agreement appointments The statistics reveal that many Australians (8,567) in the last 12 months (July 2008 to June 2009) avoided formal bankruptcy by entering into a legally binding Debt [...]
Continue reading...Insolvent Debtor
Sunday, February 21, 2010
An insolvent debtor means somebody that cannot pay their debts as and when they fall due. Some typically signs of insolvency may include: Cannot afford minimum repayments for all debts; or Somebody with many accounts in arrears; or Debts have been transferred to collection agents; or Debts have been referred to the courts for collection; or A Bankruptcy Notice has been [...]
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Saturday, March 13, 2010
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