Resources to deal with debt

AFSA is a proud partner of the National Financial Capability Strategy. We aim to provide our clients with information and services that are simple and clear. This helps you make the right financial decisions for your situation.

Based on research and feedback, we’ve developed the below resources to make our services easier to use.

On this page

Check your eligibility

This will help you find the formal insolvency options you're eligible for if you can't pay your debts.

You will be asked a few questions about:

  • Money you owe
  • Your income
  • Things you own

You will then be shown your main formal options under the Bankruptcy Act 1966.

Income contributions calculator

Use this calculator as a guide only to estimate the annual contribution you may need to pay under bankruptcy. This amount changes with how many dependants you have.

If your trustee determines you are earning over the income set amount, they'll ask you to pay income contributions. Contributions is the word we often use for compulsory payments from your income.

Case studies

COVID-19 insolvency case studies

Temporary relief from enforcement action by a creditor - Julia is a small business owner who runs a café. The café has been hit hard by the economic impact of the coronavirus.

How Temporary Debt Protection affects a creditor - Manpreet owns and operates a coffee bean supply company. Most of his customers have been impacted by the coronavirus.

Temporary relief for a consumer debtor affected by COVID-19 - Mohammed is a DJ and had racked up $80,000 in credit card debt in the 6 months prior to COVID-19.

Beware of dodgy advice - Manpreet’s business and personal debts are now over $700,000, so he decided to research what he could do to get out of debt quickly.


A fresh start after bankruptcy - Bankruptcy is not the right option for everyone but for Mei Ling and Matt, it provided a way out of their debt crisis. 

Earning income during bankruptcy - Recently, Simon was offered a position at a school. He accepted the job, and now earns $90,000 (after tax) a year.

Travelling overseas during bankruptcy - In the second year of her bankruptcy, Alisha needed to travel to New Zealand to attend a conference for work. 

Superannuation in bankruptcy - Karen is a 63 year old retired teacher, Karen had $659,000 in her regulated super fund. While still bankrupt, she applied to release a $50,000 lump sum from her super fund.

Jointly owning a house and becoming bankrupt - When Ramesh became bankrupt, AFSA automatically became the owner of his share of the house.

Secured car debts in bankruptcy - Ben is a delivery driver who needs his van for work, but it is secured to the bank.

Tax obligations in bankruptcy - Felicity is a 37 year old unemployed woman from Dandenong in Victoria. She is currently single and has no children. 

Getting an inheritance while bankrupt - In late 2017, Renee’s mother passed away. The executor of her mother’s will told Renee she was due to receive an inheritance of $45,000.

ANNULMENT - Duncan is a 45 year old electrician from Melbourne. He is a single parent of two and earns a salary of $70,000 per year.

COMPOSITION - Lucy is a 24 year old full-time student from Brisbane and works part-time at a café. She shares a rental apartment in the city with another student.

Debt agreement

Varying a debt agreement - Ashley is a 32 year old self-employed woman wanting to vary her debt agreement.

Applying for a debt agreement - Lin is a 22 year old café manager. Lin owes a range of creditors and personal loans.

Terminating a debt agreement - After struggling to meet his debt agreement Jai engages a financial counsellor to explore his options.