Debt help options in Australia
Australia’s equivalent to a UK IVA is a Part IX Debt Agreement, overseen by the Australian Financial Security Authority (AFSA)*.
Free, independent debt advice is available before you commit to any paid solution — always check what’s free in your country first.
Part IX Debt Agreement*
Formal agreement to pay an affordable amount, overseen by AFSA
Bankruptcy
Typically discharged after 3 years in Australia
Personal Insolvency Agreement (Part X)*
More flexible formal alternative, usually for larger or more complex debts
Free financial counselling
National Debt Helpline offers free, independent counselling for eligible Australians
Compare side by side
| Option | Known for |
|---|---|
| Part IX Debt Agreement* | Formal agreement to pay an affordable amount, overseen by AFSA |
| Bankruptcy | Typically discharged after 3 years in Australia |
| Personal Insolvency Agreement (Part X)* | More flexible formal alternative, usually for larger or more complex debts |
| Free financial counselling | National Debt Helpline offers free, independent counselling for eligible Australians |
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Other countries
Descriptions above are honest, general guidance, not financial advice. Full side-by-side comparison also available on the Compare Debt Options page.