Short answer: It's possible, but harder while a Part IX debt agreement is still running. Many mainstream lenders won't consider you until the agreement is completed, while some specialist lenders may, if the new loan is affordable and your administrator is aware. Once it's finished, your options usually widen over time.
How a debt agreement shows up to lenders
A debt agreement under Part IX of the Bankruptcy Act is a formal, legally binding arrangement. It's recorded in two places:
- The National Personal Insolvency Index (NPII), permanently.
- Your credit file, for 5 years from the date it was entered, or 2 years after it ends, whichever is later.
So even after you finish paying, lenders who check your credit report will still see it for a while. What they look at is whether it's active or completed, how you've handled money since, and whether you can afford a new loan.
Active vs completed: how lenders tend to view it
| Status | What lenders often think |
|---|---|
| Active, payments up to date | Most banks will decline. Some specialist lenders may consider it, usually with a larger deposit, a modest vehicle and a higher rate. |
| Active, payments behind | Very difficult. Getting back on track with the agreement comes first. |
| Recently completed | More lenders may look at it, especially with a clean repayment history since. |
| Completed some time ago and off the credit file | Assessed much like any other applicant, although lenders may still ask about it. |
Every lender has its own policy, so treat this as a rough guide rather than a rule.
Check your agreement terms first
Some debt agreements include conditions about taking on new credit. Read your agreement and speak to your debt agreement administrator before applying. Always tell the lender about the agreement. Leaving it out can lead to a decline, and there can be legal consequences for not disclosing it. The Australian Financial Security Authority (AFSA) explains your obligations at afsa.gov.au.
What helps your application
- A clean record since the agreement. Keep every agreement payment, bill and rent payment on time. Lenders read bank statements closely.
- Stable income. Time in your job and regular pay make a difference.
- A realistic car. A reliable, modestly priced vehicle is easier to finance than a large loan.
- A deposit, if you can. It reduces the amount borrowed and shows savings discipline.
- A current credit report. Check the agreement is recorded correctly, including its completion date.
Watch out for
- Applying with lots of lenders at once. Each application can add an enquiry to your file.
- Offers that seem to ignore your agreement or promise approval. Responsible lenders have to check your finances.
- Repayments that would make it hard to keep up your agreement payments. Missing those can cause the agreement to be terminated.
In or just finished a debt agreement? Tell us about your situation in about 60 seconds and a licensed broker will call you. No credit check to enquire.
Related guides
- Buying a car after bankruptcy
- Car finance while paying off debt consolidation
- Bad credit car finance
General information only. This isn't financial advice. Finance the Ride is a referral service and doesn't hold an Australian Credit Licence. Last reviewed September 2026.
