Debt Consolidation for Unsecured Debt - Australian Debt Agreements
As debt agreements are a highly sought after debt consolidation solution, the Australian Government has set some criteria for an individual to qualify to consolidate their unsecured debts.
Who Can Australian Debt Agreements Help with a Debt Agreement?
A debt agreement can only be entered if the debtor is insolvent, i.e. unable to pay their debts as and when they fall due.
A debt agreement can be entered if a debtor has:
- Not been bankrupt, utilised a debt agreement or given an authority under section 188 of the Bankruptcy Act in the last 10 years;
- An after tax income of less than $66,284.40;
- Unsecured debts of less than $88,379.20 (unsecured debt is any debt that is not secured against an asset, e.g. property).
If you’re uncertain if you fit the above criteria, don’t hesitate to pick up the phone and call our debt consolidation consultants on 1300 123 328, as there is always a chance you have miscalculated a bill, or you have not taken into consideration a monthly expense e.g. gym fees.
Debt Consolidation for Unsecured Debt
Some examples of unsecured debts include credit card debt and unsecured personal loans - that is, a loan that does not use an asset (like your home) for security. See a list of unsecured debts here.
Use the following menu to find information about debt agreements and other debt consolidation solutions available from Australian Debt Agreements:
Contact Australian Debt Agreements for more information.
