Data are values or observations from a collection gathered for reference and information.
Glossary
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An amount owed.
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A legally-binding agreement under Part IX of the Bankruptcy Act 1966 between a person who cannot pay his or her debts and his or her creditors. A debt agreement is made when creditors agree to accept the proposed terms and conditions of the debt agreement to settle the debts.
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An eligible person nominated by a debtor to handle a debt agreement on his or her behalf. May only be a Registered Debt Agreement Administrator, a Registered Trustee or the Official Trustee.
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A proposal put forward by an eligible debtor with unmanageable debts to enter into a debt agreement. This proposal must be on a set form and is put to creditors to vote upon. Proposing a debt agreement is an act of bankruptcy.
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The fee payable to the Official Receiver (AFSA) when a debtor lodges a debt agreement proposal.
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An entity that buys debts from a creditor (for less than their face value) and tries to recover the full amount.
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A person who owes a debt.
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- An application from a debtor to become voluntarily bankrupt.
- The relevant form (Form 6) for the above process.
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Debts that a bankrupt is still liable to pay after discharge from bankruptcy, completion of a debt agreement or discharge of a personal insolvency agreement obligations.