The process is relatively quick but speed in collating and formulating documents will rely solely on your participation.

There will be an initial consultation and the counsellor is required by law to fully inform you of both your obligations to a debt agreement and the alternatives available to you – much of this has been previously explained in this presentation.

There will be a financial assessment to show insolvency and this exercise can be dramatically diminished if you have all of your information ready.

Questions will be asked concerning how and why you have arrived at your insolvent state. Be totally forthright and honest irrespective of the circumstances. This interview and assessment should be absolutely confidential.

The process from interview to creditor acceptance or rejection should take no more than 40 days but you obtain relief from creditors’ demands upon acceptance by ITSA for the processing procedure and annotation of the NPII – 2 days from the return of documents.