What are the thresholds to propose a Part IX (part 9) agreement?

Three main limits determine eligibility to propose a Part IX agreement, also known as a debt agreement, to creditors.

Income after tax $105,009.45
Available assets after secured creditors $280,025.20
Unsecured creditors $140,012.60

The above thresholds mean that unsecured creditors can't be owed more than $140,012.60 and your available asset pool (income after tax; available assets) can't be greater than those amounts. 

This means means that either a Part X (part 10) personal insolvency agreement or bankruptcy may be an option.


Last updated: 03 March 2024.