DEBT AGREEMENT SPECIALISTS

How to Apply for a Debt Agreement to Consolidate Your Unsecured Debt

 

Here at Australian Debt Agreements we pride ourselves on our friendly service and approachable staff. The information below shows how to get out of debt using a debt agreement as your debt consolidation strategy.

 

Debt Agreement Process - How Australian Debt Agreements Consolidate Debt
We like to make the whole process simple. Australian Debt Agreements will run you through the following step-by-step process to help you resolve your problems and to consolidate unsecured debt:

 

1. Contact Australian Debt Agreements first - you can fill out an express enquiry form on the right or call 1300 123 328 to have a free, no-obligation consultation so that we can better understand your current financial situation and to inform you of your debt consolidation options.
2. Australian Debt Agreements will need to identify all of the unsecured debt you have, who you owe money to and whether or not you are up to date with your debt repayments.
   
3. Australian Debt Agreements will then determine your eligibility for a debt agreement if you are not in a position to obtain a debt consolidation loan.
   
4. Australian Debt Agreements will prepare a repayment plan that will help you completely pay off your current unsecured debt over a period of time that you can afford (usually within 1-5 years).
5. Once Australian Debt Agreements has confirmed that you are eligible for a debt agreement, we will need you to send a few documents to prove your income and unsecured debts.
   
6. Once Australian Debt Agreements has received your documents, we will submit a debt agreement proposal to the Insolvency Trustee Service of Australia (ITSA) who will present it to your creditors to vote on. The acceptance of the debt agreement proposal is based on a majority of your creditors agreeing to the debt agreement proposal.
7. Once your debt agreement proposal has been accepted by your creditors, we will then finalise your debt agreement and put it into action. Then, you will be on your way to becoming debt free!

The debt repayment plan becomes legally binding with your creditors and they cannot start or continue legal action against you to recover unsecured debt beyond the pre-specified amount. You must commit to make your debt repayments on a weekly, fortnightly or monthly basis.

 

Who can we help with a debt agreement?	Learn more about Australian Debt Agreements - ITSA Registered Debt Agreement Administrator
Debt Consolidation Strategies	How a Debt Agreement Can Help
What is a Debt Agreement	Who Can Enter a Debt Agreement
Benefits of a Debt Agreement	How to Apply for a Debt Agreement
Qualifying Debts for a Debt Agreement	Benefits of Debt Consolidation
How to Consolidate Debt	Options for Debt Consolidation