What are the eligibility criteria for entering into a Debt Agreement?
The eligibility criteria for entering into a Debt Agreement are as follows;
Unsecured Debts less than $80,262; or
Assets that would be available under a bankruptcy are less than $80,262; or
Income in the next 12 months is not expected to exceed $60,196.50(after tax) or $80,849(before tax)
If a debtors position exceeds the figures shown above, they may be eligible Personal Insolvency Agreement.
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