Information about your insolvency is kept on a number of databases. Importantly, these databases can be accessed by various parties.
Firstly, all forms of bankruptcy are recorded on your credit file with credit reporting agencies.
However, all forms of bankruptcy are also held with the National Personal Insolvency Index (NPII). Although, recorded information on the NPII is held longer than on your credit file.
Finally, lenders will look at your credit file when you apply for credit. As such, Part 9 may prevent you from getting further finance. Although, not all lenders check for long term insolvencies.
Applying for a Part 9 Debt Agreement is an act of bankruptcy. Another key point is if your creditors reject your agreement, you can apply to the court to make you bankrupt.