Release of debtor from debts
Time and effect of release (1) When a debt agreement ends under subsection 185N(1), the debtor is released from provable debts from which the debtor would have been released if the debtor had been discharged from bankruptcy immediately after the acceptance of the relevant debt agreement proposal for processing was recorded on the National Personal Insolvency Index. Limits on release (2) The release ceases to operate if the debt agreement is declared void by the Court. (3) The release does not: (a) release anyone else from a debt that he or she owes jointly with the debtor; or (b) release a guarantor from the guarantee that the guarantor gave for the debtor’s debt.
Sourced from the Federal Register of Legislation at 26 May 2026. For the latest information on Australian Government law please go to https://www.legislation.gov.au. Verify the current text against the official source before relying on it.
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