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Save yourself from bankruptcy with a Formal Debt Agreement

We’ll handle your creditors, negotiate an arrangement on your behalf and get you back on track financially


A way forward when your situation looks bleak

If your finances are in a mess, you’ve got defaults and are starting to get threatening letters from creditors, it could be time for a Formal Debt Agreement.

It’s no small matter, as it’s an ‘act of bankruptcy’, but it will stop things getting worse and give you an opportunity to start reducing your debt.

Sustainable, affordable payments, to help you get your debts under control

The team at Credit Counsellors Australia can take the stress away from worrying about your debts. By setting up a Formal Debt Agreement with your creditors, we can negotiate a repayment amount that you can handle and also reduce the overall debt that you have to repay at the same time.

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It’s a great alternative to Bankruptcy

A Personal Bankruptcy (which is the most serious debt option) is quite damaging. Your ability to borrow in the future will be severely limited for 5 years or more, and your lifestyle will have restrictions too.

While a Formal Debt Agreement is done under the Bankruptcy Act (‘Part IX’), it only stays on the public record for 5 years.

Here’s how it works

  • We give you a FREE Debt Assessment

    to establish your situation

  • We discuss with you your options as

    well as the pro’s and con’s of each one

  • We’ll contact your creditors

    and work out a rate/amount you can afford to pay

  • We handle the process of formalising the agreement,

    getting it agreed and signed by all of the parties

  • We then work with you

    to help you stay on track and build for the future

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