How long will a debt agreement appear on my credit file and the National Personal Insolvency Index?
· A debt agreement is an act of Bankruptcy
· A notation will appear on your credit file for a period of
Completed debt agreements (all of debt agreement obligations discharged)
- The period of 5 years that starts on the day on which the agreement is made; or
- The date the obligations are complete, whichever is later.
Terminated debt agreements (obligations not discharged)
- The period of 5 years that starts on the day on which the agreement is made; or
- 2 years from the date of termination, whichever is later
Debt agreements declared void by order of the Court
- The period of 5 years that starts on the day on which the agreement is made; or
- 2 years from the date of the Court order, whichever is later
· A notation will appear on the National Personal Insolvency Index (NPII). The time it will remain listed varies depending on how the debt agreement comes to an end:
Completed debt agreements (all of debt agreement obligations discharged)
- 5 years from the date the debt agreement was made; or
- The date the obligations were completed, whichever is later
Terminated debt agreements (obligations not discharged)
- 5 years from the date the debt agreement starts; or
- 2 years from the date of termination, whichever is later
Debt agreements declared void by order of the Court
- 5 years from the date the debt agreement starts; or
- 2 years from the date of the Court order, whichever is later
Withdrawn, rejected, cancelled or lapsed debt agreement proposals
Will remain listed on the NPII for 1 year from the day that:
- You withdraw the proposal
- The proposal is rejected by the required majority of creditors
- The acceptance of your proposal was cancelled by the Australian Financial Security Authority
- The proposal lapses
· A debt agreement may affect your business.
If you trade under a business name that isn’t your own, you must disclose the agreement to all people you do business with.