Back to home

What makes a debtor unsuitable for the Debt Repayment Scheme ("DRS")?


Updated by MLAW

The debtor is unsuitable for the DRS when he fails to comply with the Official Assignee ("OA")'s instructions. By not complying with the OA's instructions (e.g. failure to submit or complete the documents required of him or pay the required fees, or if his liabilities exceed $150,000 at any stage of the period of assessment), he will be deemed unsuitable for the DRS and his case will be referred back to Court for the bankruptcy application against him to be heard again. In such an event, the Court, the debtor and the applicant-creditor will be informed of his unsuitability for the DRS.

Related questions

Need more help?

Describe your issues to us.

Contact us