You can apply for bankruptcy if you meet these 2 requirements:
- you're unable to pay your debts when they are due (insolvent) and
- you're present in Australia or have a residential or business connection to Australia.
There is no minimum or maximum amount of debt or income you need to be eligible.
There is no fee to apply for bankruptcy.
If you're currently in a debt agreement[?] and want to apply for bankruptcy, contact your administrator. You must terminate your debt agreement first before applying.