All provable debts owing when the proposal is accepted for processing by ITSA must be disclosed by the debtor.

Section 82 of the Bankruptcy Act states all debts and liabilities which are present, future, certain or contingent which exist are provable and must therefore be included in the Debt Agreement. This includes (but is not limited to):

  • credit card debt
  • store card debt
  • personal loans
  • past utility accounts
  • rental purchase debts
  • merchant accounts
  • judgment debt
  • certain tax liabilities

However, secured debt (subject to some exceptions) cannot be included nor can council rates. Debts of this nature must be dealt with outside of the Debt Agreement.