The Bankruptcy Act stipulates statutory thresholds on income, assets and unsecured debts for the different products:
Bankruptcy does not have any eligibility thresholds or criteria, however, bankruptcy does have statutory limits for assets which a bankrupt can retain and thresholds on income before statutory income contributions become payable. The most common statutory limit for assets which a bankrupt can retain are listed below:
Use our free statutory income contribution calculator to see if you may be liable for statutory income contributions :
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You may be eligible to propose a Debt Agreement if your:
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You may be eligible to propose a Personal Insolvency Agreement if your:
Debt Free are industry experts and can explain how these statutory thresholds and limits may be applied to your situation and which personal insolvency product is best for you. Debt Free offers all three products so you can be rest assured you will receive truly professional advice and assistance.
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