What is a DOI?

If you need time to consider what your next step will be - a declaration of intention to present a debtor’s petition (DOI) may suit you.

What happens when you lodge a DOI

You receive protection

  • It provides a 21 day protection period where unsecured creditors (including sheriffs) can’t take further action to recover their debts.

It is not recorded on the NPII

  • The details of your DOI do not appear on the permanent National Personal Insolvency Index (NPII)[?].

You are not made bankrupt

  • It doesn't automatically make you bankrupt. After 21 days, if you decide to not enter bankruptcy, creditors can continue to pursue you for the debts.

Your goods can still be repossessed

  • It doesn't stop a creditor from repossessing goods, if you can’t make repayments, for a secured debt.

Creditors can use it to bankrupt you

  • A creditor[?] can use the fact you have lodged a DOI to apply to the court to make you bankrupt.

A financial counsellor may assist you to make an informed decision. To speak with a free financial counsellor contact the National Debt Helpline on 1800 007 007.

For more information on financial counsellors and other support services see Where to find help.