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 instalments.
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:
- 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 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.
How We Help –
Getting You Back On Track
If 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.