Steps to completing set-up. Debt Agreement (DA)

Week 1

  • Ask any questions that you may have to ensure that a Debt Agreement is the right solution for you. (week 1)
  • Review the Professional Services agreement (PSA) we send you. (week 1)
  • You commence making your payments to us under the PSA above. (week 1 to week 10)
  • You should stop all direct debits that you may have in place for the unsecured debt/s that are forming part of the DA. You may need to open a new bank account and get your pay put into the new account to achieve this.  (week 1)
  • You sign the Government Prescribed Information [Stage 1] (week 1)

Week 2 to week 5

  • We contact any of your creditors who are harassing you and get them off your back as well as getting from them any details/information you may not have. (week 1 to week 4)
  • We gather the information and supporting documents from you so that the DA proposal can be prepared. (week 1 to week 4)
  • You sign the Government Prescribed Information [Stage 2 – this must be signed before you can sign the DA proposal] (week 5)
  • The DA proposal may now be signed as long as at least 1 full working day has passed since the Stage 2 Government information (above) has been signed. (week 5)
  • DA is filed with the Government who will take up to 4 days to process it and put it into voting [voting is a 5 week period] (week 6)

Approval time

  • Government advises everyone of the voting result (week 11)
  • (Upon Approval) You start paying the 156 or 260 weeks (5 years) of DA payments into the trust account (week 12).


The above timelines are approximate. Hold-ups beyond our control, which includes you not responding when required will cause the process to be longer.

100% informed

We want you to be 100% informed of the process and everything involved.

Contact the licensed Administrator, Keith Dorahy, direct on 0421 866 422 with any question or query.


Click through to Pro’s, Con’s and frequent questions.