call us

A debt agreement is a way of making regular payments towards your unsecured debts at an amount you can afford.

iStock 14532926 SMALL

A debt agreement is a good way to consolidate your repayments.

Unlike debt consolidation where you have to take out a loan, with a debt agreement you can consolidate your repayments without actually borrowing more money. Another benefit of consolidating your payments instead of your debt is that you may not have to pay any interest.

Your creditors will be asked to vote on your offer and this amount can be less than your normal payments and in most cases add up to less than what you currently owe.

Whilst a debt agreement is an alternative to bankruptcy, submitting a debt agreement proposal is still classified as an “Act of Bankruptcy”. If the proposal is not accepted by creditors, a creditor can use this to apply to the court to make you bankrupt.

Benefits of a debt agreement

  • Payments based on what you can afford
  • You may be able to pay back less than what you owe
  • You may not have to pay any more interest
  • We speak to your creditors, so they can call us instead of you
  • No more phone calls, letters or harassment
  • One simple payment every week or fortnight
  • Could save you thousands
  • Get you back on your feet and take control

Is a debt agreement suitable for me?

If you are struggling with your current payments for your unsecured debts, but you can afford to make some sort of offer for regular payment, a debt agreement may be suitable for you.. Credit Repair Australia can help you develop an offer which will be put to your creditors for them to vote on. Should creditors accept your offer, it is possible that you could end up paying back less than the full amount of your debts.

Still have questions? Visit our FAQs page for more information on debt agreements, call us on 133 493 or request a call back.

iStock 90045913 SMALL

Our Debt Agreement Process

Debt Agreement Process

We're here to help


Request a callback

133 493 call

Call 133 493