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You are here: Home / Debt Solutions / Debt Agreement

Debt Agreement

A Part IX Debt Agreement is a legally binding agreement between you and your creditors. This means creditors will no longer charge you interest on your debts. You will just pay all your unsecured debts back in one easy regular weekly or fortnightly instalment.

 

Debt Solutions

It represents an alternative to bankruptcy, and is suited to individuals on an income lower than $1,669.23 (after tax) per week.

Reduce Payments by up to 50% –

The Right Agreement Can Help You

There are a number of benefits to putting a Debt Agreement in place, including:

  • Interest on your debts is frozen.
  • Creditors can no longer pursue you.
  • We handle communication with your creditors
  • You pay just ONE weekly or fortnightly instalment

There are a number of matters that need to be considered prior to entering into a debt agreement:

  • Proposing a debt agreement is an act of bankruptcy.
  • If not accepted a creditor can apply to the court for bankruptcy.
  • A debtor who enters into a debt agreement will be recorded on the National Personal Insolvency Index (NPII) for 5 years providing a debt agreement (Part IX) has been fulfilled.
  • A debtor who enters into a debt agreement will appear on credit reporting agencies records for up to five (5) years. This will effect the debtor’s ability to obtain further credit.
  • A debt agreement does not release another person from a debt jointly owed with the debtor.
  • A debtor must disclose that he/she is a party to a debt agreement if obtaining goods and services in excess of the current indexed amount. Refer below.

Useful Information:

You can put forward a proposal for a Debt Agreement to creditors, if you:
Debt Agreement Information Have not been bankrupt, utilised a Debt Agreement or been given an authority under Part X of the Bankruptcy Act in the last 10 years.

Debt Agreement Information Have unsecured debts of more than $8,000

Debt Agreement Information Have an after tax income of less than $86800.35 per annum (that’s no more than $1,669.23/week)

Debt Agreement Information Have unsecured debts of less than $115,733.80.00

Debt Agreement Information Are insolvent.

 

How We Help –

Getting You Back On Track

Debt Agreement HelpIf you are in debt and struggling to meet your repayments, a Debt Agreement may be an effective solution for you.

A Debt Agreement is a negotiated proposal with your creditors. which if agreed to, becomes legally binding.

This can save you thousands on interest and put you in the direction to be free of debt.

If you are in debt, struggling to meet repayments or manage your financial commitments, then a Debt Agreement might be the right solution for you.


As you can see  there is a range of choices, but only one will be right for you.

The team at Capital Debt Solutions will find the best solution and assist you to get you back on track and rebuild your financial future.

Click here to message us or call us now on 1300 107 155 to see how we can help you reduce your debts.

Are you losing control of your debt?

Looking after and managing debt is not easy. If you are struggling to keep control of your debt then you need expert help. You might feel you don't know where to turn. Capital Debt Solutions is here to help.
  • Credit Card DebtUncontrollable Credit Card Debt? We can help you eliminate high interest credit card debt and become debt free.
  • Debt ConsolidationWhat Is Debt Consolidation? Consolidate your debts into one weekly repayment at a lower interest rate.
  • Loan Repayment ProblemsPersonal Loan Repayment Problems? We can help you reduce your monthly repayments & pay less interest.
  • Mortgage RepaymentsCan’t Meet Your Mortgage Repayments? We can help you to use the equity in your property to repay high interest debt.
  • At Risk Of Losing Your CarAt Risk Of Losing Your Car? We can help you resolve your debt and keep your car.
  • Alternatives To BankruptcyAlternatives To Bankruptcy? Bankruptcy has serious consequences. There are alternatives. We can help you make a decision.

Debt Advice Links:

  • Procrastinating On Getting Debt Solutions
  • How to fix bad credit rating
  • Should I consolidate my debt?
  • Need financial help? Your options
  • A guide to bankruptcy laws

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Capital Debt Solutions, PO Box 1732 Noosaville BC. QLD 4566.
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1300 107 15507 5474 4450
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