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.

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.