Debt Agreement | Fast Debt Help

Debt Agreements

A Debt Agreement is a binding agreement between you and your creditors.

Stop the harrassing calls, freeze interest and make an affordable repayment plan
What are the benefits of a Debt Agreement?
Freeze Interest

All interest is frozen on every unsecured debt you have

Affordable Repayment Plan

Payments can be made in line with how you're paid - weekly, fortnightly or monthly

Stop the Harrassing Phone Calls

It stops creditors hassling you and protects what you have

Allows You To Keep Your Home and Car

Once under the protection of a Debt Agreement, you can keep your family home and secured assets like Motor Vehicles

Get Your Life Back On Track

As long as you stick to your payment plan, you are protected by government legislation

Plan for the Future

Agreements usually run over four or five years

Summary of Benefits of a Debt Agreement
  • All interest is frozen on every unsecured debt you have
  • It stops creditors hassling you and protects what you have
  • Does not require a good credit history
  • Everything becomes more affordable as payments are based on a realistic budget that you can afford
  • A single Direct Debit per payment cycle covers all your liabilities
  • Payments can be made in line with how you're paid - weekly, fortnightly or monthly
  • So long as you stick to your payment plan, you are protected by government legislation
  • Agreements usually run over four or five years
  • Debt Agreements do not affect your right to run a business or company or travel overseas
  • Not all creditors need to agree to the Debt Agreement (only 50% of debt value)
  • Once under the protection of a Debt Agreement, you can keep your family home and secured assets like Motor Vehicles
  • Regardless of a changing situation, you will not need to declare Windfalls, Inheritances or Compensation Payments once the agreement has been set
Limitations of a Debt Agreement
  • Not all Debts may be included such as secured Debts
  • If you wish to keep Cars Houses etc you must keep payments up to date
  • You may not qualify if you have too many Debts
  • You will appear on the NPII and Credit reports for 5 years maybe more
  • If you trade under a business name that isnt your own you have to inform people who you deal that you are in a Debt Agreement
  • While a Debt Agreement is covered under Part IX of the Bankruptcy Act to offer an alternative to Bankruptcy, it is still considered an act of Bankruptcy and may affect certain employment or work license arrangements.
  • If you do not qualify for a Debt Agreement, or you need an industry license for your job, an Informal Agreement may be a better option for you.

Debt Agreement FAQs

+ How do I qualify for a Debt Agreement?
+ What debts can be included in a Debt Agreement
+ What debts can't be included?
+ What about my tax refund?
+ Can I run a business?
+ Will I still keep my car and house?
+ Do all people I owe money to have to agree?
+ Who has to know about it?
+ What are the consequences?
+ What's the difference between Bakruptcy and a Debt Agreement?
+ What if I don't qualify for a Debt Agreement?
+ Can I apply for a Student Help Loan whilst in a Debt Agreement or Bankrupt?

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