Debtors can lodge a Debt Agreement proposal if they:

are insolvent (unable to pay their debts as and when they fall due);

have not been bankrupt, had a Debt Agreement or given an authority under Part X of the Bankruptcy Act in the last 10 years (10 years since discharge);

have unsecured debts, assets and after-tax income for the next 12 months all less than the statutory limits (please see the current Indexed Amounts fact sheet or the AFSA website.)