I want to finish my agreement early

Is it possible to finish my agreement early?

Yes you may finish your agreement early. All you need to do is make all of the required payments under your agreement. Therefore, if you pay a little extra with each payment you will finish earlier.

What is the process involved if I finish my agreement early?

As soon as you have made all of your payments you must notify us immediately. Within 5 working days of you making your last payment under your agreement we must notify the Insolvency Trustee Service Australia. AFSA will then update the National Personal Insolvency Index with the notation that you have completed your insolvency agreement.

You will then be released from all of your debts (which were outstanding when you entered into your agreement), even if your creditors received less than 100 cents in the dollar on their admitted claims.