It can be difficult to decide if a debt agreement is a good solution for you, or even to simply to ask for financial help. Though there are really no set guidelines lifeafterdebt.com.au suggest when you are worrying about not paying your credit card bill on time, about not making mortgage repayments or about that third letter from a creditor you should contact us for advice. Financial advisors exist to ease those worries and come up with appropriate solutions for your individual circumstances.
There are a number of different debt solutions available to get your finances back in order – informal arrangements, refinancing loans, debt consolidation, and even bankruptcy for those who are doing it tough. One solution is implementing a debt agreement with your creditor. A debt agreement covers a number of different circumstances, but usually entails paying off your debt to creditors over a shorter period of time than previously understood, and can sometimes mean you will not be required to pay the full amount. It also discounts any interest that would previously have been required.
You should choose a debt agreement if you are unable to pay off debts or have fallen too far behind on payments. Certain creditors will sign off on debt agreements depending on a number of requirements – for example you cannot have filed for bankruptcy orlodged a debt agreement over the past decade, and you must meet a number of income assessments. Debt agreements are a good alternative when working out how to consolidate your debt, but aren’t easy to propose on your own.
lifeafterdebt.com.au can offer a team of highly experienced, qualified and professional financial advisors to take you through every step of your debt agreement process, or even to direct you to another solution that may be better suited to your situation. Why not give us a call on 1300 237 669 or visit our website today for more information.