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James D. Ford
James D. Ford, Solicitor
Category: Australia Law
Satisfied Customers: 1601
Experience:  Consulting Principal at Nexus Law Group
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I'm on a 457 working visa and wanting to enter into debt agreement.

Customer Question

I'm on a 457 working visa and wanting to enter into debt agreement. By next year, this 457 visa will expire but my sponsor will reapply for the same in order to renew. I will also apply for a permanent residency anytime. My question is before i enter into this debt agreement, will this ever affect any of my visa application?
Submitted: 2 years ago.
Category: Australia Law
Expert:  James D. Ford replied 2 years ago.
Hi, With regard to the 457 requirements for yourself... No mention is made regarding whether applicants are insolvent or not... only that they pass the health and good character requirements. In all visa applications applicants are asked character questions and as bankruptcy is not a criminal offence it therefore won’t affect the eligibility for most visa subclasses for general skilled, employer sponsored or family visas. It would depend upon the full circumstances leading to the debt agreement, whether immigration would consider failing you on the good character requirements... however, in my view, entering a debt agreement.. is facing up to your financial situation.. therefore this act on it's own, would not trigger a failure of the character test... even declaring bankruptcy, is not a criminal matter.. and as mentioned above.. and won't effect your eligibility. Kind regards, James
Customer: replied 2 years ago.
So technically speaking, would a person entering into a debt agreement the same as declaring a bankruptcy?
Expert:  James D. Ford replied 2 years ago.
Proposing a debt agreement, is an "act of Bankruptcy".. and if the debt agreement is not successful... then a creditor can use this "act of bankruptcy".. to ask to have the person made bankrupt. If the Debt agreement is successful, then the person avoids bankruptcy.. as long as they fulfil the terms of the debt agreement. Kind regards, James

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