The Bankruptcy Act 1966 enables a debtor with unmanageable debt who meets certain eligibility criteria to get immediate and temporary protection from enforcement action by unsecured creditors until they have fully considered their options. The temporary stay on enforcement action is for a period of up to 21 days.
The debtor may wish to negotiate payment arrangements with creditors during this stay period or consider formal insolvency options, including bankruptcy.
A debtor who presents a temporary debt protection form is usually the subject of current debt enforcement action. The Official Receiver will assess the form and, if the debtor is eligible to present it, accept it as a matter of urgency to prevent an unsecured creditor, sheriff or bailiff from taking any further action until the stay period expires. If the debtor is ineligible, the Official Receiver will contact the debtor as quickly as possible to explain the reason(s) for their ineligibility.
Some people are not eligible for TDP. This includes people who:
1. the debtor is a party to a current debt agreement or personal insolvency agreement (i.e. the agreement has not been set aside, terminated or completed)
2. the debtor has been served with a creditor’s petition that has been presented to the Court and that petition has not been withdrawn by the creditor, has not been dismissed by the Court or has not lapsed.
3. the debtor is subject to a current controlling trustee authority that has not lapsed.
4. the debtor signed a controlling trustee authority within the 6 months prior to the presentation of the temporary debt protection form.
5. the Official Receiver has previously accepted a declaration of intention to present a debtor’s petition/temporary debt protection form from the debtor within the past 12 months.
博通律师事务所的澳洲悉尼华人民事法律律师了解临时债务保护相关事项，我们可以提供专业的法律建议，并帮助您申请TDP。
