What happens after my agreement ends?

2 min read

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 debts does a debt agreement cover?

Your debt agreement or personal insolvency agreement appears in 2 places:

your credit report and
the National Personal Insolvency Index.

Your credit report

Your agreement appears on your credit report for 5 years from the start date of your agreement. This can sometimes be longer and may affect your ability to obtain credit.

For more information regarding your credit report, contact a credit reporting agency. You can find their details at www.moneysmart.gov.au.

National Personal Insolvency Index

The National Personal Insolvency Index (NPII) is a public record of all insolvency proceedings in Australia.

Debt agreements

Your name appears on the NPII for a limited time. This depends on how the agreement was finalised.

If you completed your debt agreement

If the obligations of your debt agreement are complete, information about your agreement will be removed from the NPII:

5 years from the date you make your debt agreement or
the date the obligations are discharged, whichever is later.

If you or your creditors terminate your debt agreement

If your debt agreement finishes due to a termination proposal, or a six-month arrears default, information about your agreement will be removed from the NPII:

5 years from the date you make the debt agreement or
2 years from the date of termination, whichever is later.

If a court declares your debt agreement void

If a court order declares your debt agreement void, information about your agreement will be removed from the NPII:

5 years from the date you make your debt agreement or
2 years from the date of the court order, whichever is later.

Personal insolvency agreements

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).

For more information see: What is the NPII?