What debts can be included under a Debt Agreement?
May 20, 2020What is a Debt Agreement Administrator?
May 20, 2020A range of debts cannot be included under a Part IX debt agreement. Specifically, confirm with your creditor if insolvency can be used to settle your debts. However, some of these debts are:
- Firstly, any secured loans cannot be included under a debt agreement. As such, these may include car loans, home loans, and any caveat debt.
- As well as fines, penalties and court-ordered payments cannot be included.
- Certainly, child support cannot be included and you will still owe it.
- Also, study loans such as HECS or HELP Loans and a debt is owed to the government.
- Additionally, victims of crime debt & money owed as a result of a crime.
- Likewise, debts incurred by fraud are not required to be included.
- Finally, debts incurred after Australian financial security authority accept your proposal.
Related pages: Money Smart Website: What debts does a debt agreement cover?