Fast Debt Help | Debt Agreement

Blog Home > Debt Solutions > Debt Agreement

Debt Agreement

3/20/2018 10:33:44 AM Debt Solutions Debt Agreement

Debt Agreements (also known as Part IX Debt Agreements) is a debt solution suitable for many people. In fact, around 16000* Debt Agreements are entered into in Australia every year.

So, what makes them good?

Firstly they are regulated by AFSA (Australian Financial Security Authority) so it is a binding agreement between you and your creditors to pay an amount you can afford. Secondly, all interest on debts is frozen. Yes, that means once you have started your Debt Agreement you won't be paying any interest on debts that are in the agreement. Your creditors are not allowed to harrass you about making your payments. This comes back to the first point and is part of the legally binding contract between you and your creditors. For a lot of our clients this is actually one of the biggest reasons for entering into a Debt Agreement - it's a big stress reliever! Lastly, a Debt Agreement is a simple repayment plan that can be structured so you only make one payment either weekly, fortnightly or monthly, you even get to choose the frequency of the payment.

What about the downsides?

There are always downside to everything in life but weighing up if they effect you comes down to each individual. The biggest downside is that you won't be able to borrow money for the 5 years you are in a Debt Agreement. For many of our clients this may not effect them too much as their credit rating is already in a bad position and that's why they ring us in the first place. 

You can't put secured debts in a Debt Agreement. The most common types of secured debts are car loans and Mortgages. Any secured debts will have to be paid off separately from the Debt Agreement.  Other debts that can't be put in a Debt Agreement are Traffic and Toll fines, Court Ordered Fraud Settlements or fines and Government Accumulated Help Debts.

How do I get started?

The best way is to contact Fast Debt Help so we can get an idea of your situation. From their we will be able to do a quick assessment over the phone of whether a Debt Agreement is suitable for you. If it is we can arrange for a specialist to visit you at your home or other suitable location to get the application underway. Fast Debt Help can guide you through the process and take away the stress your debts are causing.


* Source:

debt agreement debt solutions debt help
Share this Post:

Related Posts:

Newest Blogs

Protecting the Family Home When Debt Becomes Uncontrollable

Protecting the family Home when Debt becomes uncontrollable.

Negotiating Debt when you ... read more

11/19/2018 5:00:40 PM

Home Loans

Informal Arrangements

What is an Informal Arrangement?

Basically speaking, it is an agreement between you a ... read more

3/20/2018 2:02:42 PM

Debt Solutions

Debt Agreement

Debt Agreements (also known as Part IX Debt Agreements) is a debt solution suitable for many peop ... read more

3/20/2018 10:33:44 AM

Debt Solutions

Case Study: When Heart Problems Lead to Tax Problems

The Situation

John had a small business as a truck driver and courier. ... read more

11/8/2017 2:35:14 PM

Debt Agreements

Case Study: Saving James Banking Job

James has Credit Card and Personal Debt, but works in the banking Industry. If James was to do a ... read more

11/8/2017 2:31:50 PM

Informal Arrangement

FREE Phone Advice

FREE Phone Advice

Fast Debt Help

Our other sites -
Money Buckets
Starlight Home Loans


1800 825 010

[email protected]

PO Box 6100, Kincumber, NSW, 2251

Our Credentials

© Copyright 2019 Fast Debt Help - All rights reserved.

NEW SOUTH WALES | Sydney, Central Coast, Newcastle, Wollongong