Informal Debt Agreement
Given enough time, if you think you would be able to pay off your debts, then an informal debt agreement could be the solution for you. An informal debt agreement is a means to restructure your debts by varying the contract, term and payments Creditors will accept. If your circumstances have changed, getting in contact with your creditor or person you owe money to could prevent any additional fees or costs.
For an informal debt arrangement, our team at Life After Debt ® will negotiate with your creditors to change the terms upon which your debts will be repaid. We will discuss on your behalf how and when you will make your repayments – in other words, we will seek to lower the monthly payment and/or buy you more time.
As an informal debt agreement requires approval from all of your creditors, they can be sometime be difficult to achieve. This is where having Life After Debt ® in your corner really pays off – our specialists are expert negotiators with decades of experience dealing with banks and financial companies.
One of the main positives of undertaking an informal debt arrangement is that it not only helps you to avoid bankruptcy, but it also takes away the stress and anxiety associated with your debt. To determine whether this is the best solution for you, contact us now for your free financial consultation.