My friend told me that everyone is given an opportunity to lodge a DOI before they can be declared bankrupt. Is this true?
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Answer by Kelly Angus, Adelaide 5000 SA
- No. Not everyone is given an opportunity to lodge a DOI. You are eligible to lodge a DOI if:
- you have not applied for a DOI in the last 12 months;
- you have not signed a controlling trustee authority in the last six months;
- you are not presently under a debt agreement, personal insolvency agreement or the subject of a current controlling trustee authority;
- a creditor has not already petitioned for you to be made bankrupt; and
- you have a residential or business connection to Australia meaning that you are living in Australia or conduct business in Australia.