Ƶ

Debt Agreement Form for Australia

Debt Agreement Form Template for Australia

A Debt Agreement Form is a legally binding document under Part IX of the Australian Bankruptcy Act 1966 that provides a formal alternative to bankruptcy. It represents a structured arrangement between a debtor and their creditors, administered by a registered debt agreement administrator, where the debtor agrees to pay a specified portion of their debts over a defined period. The document must comply with Australian federal bankruptcy legislation and includes detailed financial information, payment arrangements, and statutory declarations. It offers individuals experiencing financial difficulty a way to manage their debts while avoiding full bankruptcy proceedings.

Your data doesn't train Genie's AI

You keep IP ownership of your information

Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.

Download a Standard Template

4.6 / 5
4.8 / 5
Access for free
OR

Alternatively: Run an advanced review of an existing
Debt Agreement Form

Let Ƶ's market-leading legal AI identify missing terms, unusual language, compliance issues and more - in just seconds.

What is a Debt Agreement Form?

The Debt Agreement Form is a crucial document in Australian insolvency law, designed to provide individuals with a formal alternative to bankruptcy when facing financial difficulties. It is specifically regulated under Part IX of the Bankruptcy Act 1966 and must be lodged with the Australian Financial Security Authority (AFSA). The document is used when an individual's unsecured debts are less than the threshold amount set by AFSA, and their after-tax income falls within prescribed limits. The form includes comprehensive details of the debtor's financial position, a proposed payment plan, all creditor information, and mandatory warnings about the consequences of entering into the agreement. It must be administered by a registered debt agreement administrator and requires formal acceptance by creditors. The agreement, once accepted, provides protection for the debtor while ensuring a fair arrangement for creditors to receive payment over time.

What sections should be included in a Debt Agreement Form?

1. Parties: Identification of the debtor, the debt agreement administrator, and details of all affected creditors

2. Background: Context of the debtor's financial situation and reason for seeking a debt agreement

3. Definitions: Key terms used throughout the agreement, including statutory definitions from the Bankruptcy Act

4. Statutory Warnings: Mandatory warnings about the consequences of entering into a debt agreement as required by the Bankruptcy Act

5. Declaration of Eligibility: Debtor's confirmation of meeting eligibility criteria for a debt agreement under the Bankruptcy Act

6. Financial Statement: Summary of the debtor's income, expenses, assets, and liabilities

7. Proposed Payments: Details of the payment plan, including amount, frequency, and duration of payments

8. Administrator Appointments: Appointment and powers of the debt agreement administrator

9. Creditor Claims: Recognition and treatment of creditor claims under the agreement

10. Variation and Termination: Circumstances and processes for varying or terminating the agreement

11. Execution: Formal execution blocks for all parties

What sections are optional to include in a Debt Agreement Form?

1. Security Provisions: Required when specific assets are provided as security for the agreement

2. Special Conditions: Used when there are unique circumstances or requirements specific to the debtor's situation

3. Income Contingent Provisions: Required when payments are tied to variable income or specific income thresholds

4. Third Party Guarantor: Included when a guarantor is providing additional security for the agreement

5. Hardship Provisions: Optional provisions for handling future financial hardship scenarios

6. Early Completion Provisions: Terms for early completion of the agreement if circumstances allow

What schedules should be included in a Debt Agreement Form?

1. Schedule A - Detailed Asset Register: Complete listing of all assets owned by the debtor with valuations

2. Schedule B - Creditor Details: Comprehensive list of all creditors, including debt amounts and account details

3. Schedule C - Income and Expenses: Detailed breakdown of the debtor's income sources and regular expenses

4. Schedule D - Payment Schedule: Detailed payment timeline showing all scheduled payments over the agreement period

5. Appendix 1 - Statement of Affairs: Formal statement detailing the debtor's complete financial position

6. Appendix 2 - Supporting Documents: Copies of relevant financial documents, including proof of income and expenses

7. Appendix 3 - Prescribed Information: Mandatory information required under the Bankruptcy Act and Regulations

Authors

Alex Denne

Head of Growth (Open Source Law) @ Ƶ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Jurisdiction

Australia

Publisher

Ƶ

Document Type

Loan Agreement

Sector

Cost

Free to use
Relevant legal definitions







































Clauses






























Relevant Industries

Financial Services

Banking

Legal Services

Insolvency Services

Credit Management

Debt Collection

Consumer Services

Financial Advisory

Personal Banking

Retail Banking

Relevant Teams

Legal

Credit Management

Collections

Risk Assessment

Compliance

Customer Service

Financial Advisory

Insolvency Administration

Credit Assessment

Document Processing

Relevant Roles

Debt Agreement Administrator

Insolvency Practitioner

Financial Advisor

Credit Manager

Legal Counsel

Bankruptcy Specialist

Financial Counselor

Collections Manager

Risk Manager

Compliance Officer

Banking Officer

Customer Service Representative

Credit Assessment Officer

Industries







Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

Find the exact document you need

Auto Loan Promissory Note

An Australian-compliant template for vehicle loan agreements that establishes loan terms, security interests, and obligations under national consumer credit laws.

Download

Contract To Take Over Car Payments

An Australian legal agreement for transferring car payment obligations from one borrower to another, compliant with national consumer credit laws.

Download

Private Lender Contract

An Australian-law governed agreement establishing terms and conditions for private lending arrangements, including loan details, security, and compliance with national lending regulations.

Download

Vendor Finance Loan Agreement

An Australian-law governed template agreement for vendor financing arrangements, incorporating security interests and compliance with local credit legislation.

Download

OverLoan Agreement

An Australian-law governed agreement establishing an overdraft facility between a financial institution and borrower, detailing credit limits, terms, and obligations under Australian banking regulations.

Download

Fixed Sum Loan Agreement Early Settlement

An Australian-compliant loan agreement template for fixed sum loans with early settlement provisions, meeting National Consumer Credit Protection Act requirements.

Download

Employee Loan Agreement Interest

An Australian-compliant interest-free loan agreement between employer and employee, including repayment terms and FBT considerations.

Download

Employee Computer Loan Agreement

An Australian law agreement governing the loan of computer equipment from employer to employee, establishing terms, conditions, and mutual obligations.

Download

Facility Agreement Loan

An Australian law-governed agreement setting out terms and conditions for the provision of loan facilities between lenders and borrowers, including key financial and operational terms.

Download

Acknowledgement Of Debt Agreement

An Australian-compliant legal document where a debtor formally acknowledges their debt and agrees to specific repayment terms under Australian law.

Download

Personal Loan To Business Agreement

An Australian-law governed agreement between an individual lender and a business borrower, establishing terms and conditions for a business loan.

Download

Loan Agreement Between Family Members

An Australian-compliant legal agreement that formalizes and documents loan arrangements between family members, including terms, conditions, and repayment schedules.

Download

Standard Mortgage Agreement

An Australian-law governed agreement establishing the terms and security arrangements for a mortgage loan secured against real property.

Download

Director Loan To Company Agreement

An Australian law-governed agreement documenting the terms and conditions of a loan provided by a director to their company, ensuring regulatory compliance and protecting both parties' interests.

Download

Construction Loan Contract

An Australian legal agreement for progressive funding of construction projects, governing both financial and construction aspects under Australian federal and state laws.

Download

Commercial Real Estate Loan Term Sheet

Australian-compliant template outlining key terms and conditions for commercial real estate loan facilities.

Download

Demand Loan

Australian-compliant demand loan agreement template allowing lenders to call for repayment at any time, suitable for both consumer and business lending.

Download

Balloon Loan Agreement

An Australian-compliant loan agreement template featuring regular payments and a final balloon payment, structured according to Australian financial and consumer protection laws.

Download

Loan Agreement Between Two Individuals

An Australian-compliant loan agreement template for personal lending between individuals, establishing terms, conditions, and obligations for both parties.

Download

Simple Intercompany Loan Agreement

An Australian law template for documenting loan arrangements between related companies within the same corporate group.

Download

Loan Agreement Between Companies

Australian corporate loan agreement template for inter-company lending, compliant with Australian corporate and financial services laws.

Download

Home Equity Loan Agreement

Australian-compliant Home Equity Loan Agreement Template establishing terms for property equity-secured lending, including mandatory consumer protection provisions.

Download

Simple Promissory Note For Family Loan

An Australian legal document that formalizes and documents the terms of a monetary loan between family members, providing legal protection while maintaining familial considerations.

Download

Debt Payment Agreement

An Australian-compliant template for structuring and documenting debt repayment arrangements between creditors and debtors, incorporating all essential legal and practical provisions.

Download

Inter Lender Agreement

An Australian law-governed agreement establishing rights, priorities, and relationships between multiple lenders in a financing arrangement.

Download

Hand Loan Agreement

An Australian-compliant agreement documenting the terms and conditions of a personal or small business loan between parties, including loan amount, interest, and repayment terms.

Download

Flexi Finance Loan Agreement

An Australian-compliant flexible finance agreement establishing a revolving credit facility with variable drawdown and repayment terms.

Download

Credit Terms Agreement

An Australian-compliant template for establishing credit arrangements between providers and customers, incorporating all necessary legal and regulatory requirements.

Download

Assignment Of Loan Agreement

Australian-compliant template for transferring loan rights and obligations from one lender to another, suitable for various types of loan assignments under Australian law.

Download

Agreement Between Two Persons For Money

An Australian law-governed agreement formalizing financial arrangements between two individuals, including payment terms and obligations.

Download

Subordinated Loan Agreement

Australian law template for subordinated loan arrangements, establishing terms for junior-ranking debt with comprehensive creditor provisions.

Download

Loan Payment Agreement

An Australian-law governed agreement establishing loan terms, repayment conditions, and parties' obligations in a lending arrangement.

Download

Loan Participation Agreement

Australian law-governed template for loan participation arrangements between financial institutions, establishing terms for loan interest transfers and regulatory compliance.

Download

Simple Loan Application Form

An Australian-compliant loan application form template for collecting and assessing borrower information in accordance with national lending regulations.

Download

Private Lending Term Sheet

An Australian law-compliant template outlining key terms and conditions for private lending arrangements, serving as the foundation for the final loan agreement.

Download

Personal Loan Receipt

An Australian-compliant template for documenting personal loan receipts, capturing loan details and acknowledgment of funds transfer between parties.

Download

Payday Loan Contract

An Australian-compliant payday loan contract template for small amount credit contracts (SACCs), incorporating all regulatory requirements and consumer protections under Australian law.

Download

Facility Agreement

An Australian law-governed template agreement setting out terms and conditions for corporate lending facilities, including key provisions for facility mechanics, security, and covenants.

Download

Debt Repayment Contract

An Australian-compliant Debt Repayment Contract Template for documenting and managing debt repayment arrangements between creditors and debtors.

Download

Employee Forgivable Loan Agreement

An Australian-law governed agreement establishing terms for an employer-provided loan to an employee that can be forgiven based on specified employment and performance conditions.

Download
See more related templates

ұԾ’s Security Promise

Genie is the safest place to draft. Here’s how we prioritise your privacy and security.

Your documents are private:

We do not train on your data; ұԾ’s AI improves independently

All data stored on Genie is private to your organisation

Your documents are protected:

Your documents are protected by ultra-secure 256-bit encryption

We are ISO27001 certified, so your data is secure

Organizational security:

You retain IP ownership of your documents and their information

You have full control over your data and who gets to see it