Currently in an agreement

If you’ve submitted a debt agreement proposal and the majority of your creditors voted to accept it, you and your creditors will now be bound by the terms of that agreement.

You will have a debt agreement administrator that manages your payments to creditors and can speak to creditors on your behalf.

If you need to update your details or have any questions about your debt agreement works, contact your debt agreement administrator for help.

If you’d like more information about what happens to your debts and credit record once you enter a debt agreements see Consequences of a debt agreement.

Once creditors have accepted your personal insolvency agreement (PIA) at a meeting of creditors, you’ll receive a written notice with the voting outcome. If you’re not sure what the outcome is, contact your controlling trustee.

If you’re struggling to keep up with the repayments for your debt agreement, there are some options available to you.

You can speak to your debt agreement administrator or a free, independent financial counsellor to discuss your situation and help you with how to proceed. For more information on financial counsellors and other support services see Where to find help.

If your circumstances have changed, but you’d like to continue with the debt agreement, your debt agreement administrator may help you to change (or vary) your debt agreement.

If you don’t make any repayments for six months, your debt agreement may be cancelled.

If your circumstances have changed, you may consider varying (changing) or terminating (cancelling) your personal insolvency agreement (PIA).

Once your debt agreement is over, most of your debts are released (although not all debts are covered by debt agreements).

If you’re not sure when your debt agreement is due to end, contact your debt agreement administrator to find out. If your administrator has confirmed your agreement has ended, you can request a confirmation letter from us by submitting an end of debt agreement enquiry.

When your agreement ends, most of your debts are released and you no longer need to pay them. However, there may be some debts that you still need to pay.
For more information see: What does a PIA cover?

Your name appears on the National Personal Insolvency Index (NPII) forever. This shows you have signed a controlling trustee authority (we also refer to this as a section 188 authority).