Clear your debts the smarter way.

Debt Help Australia offers you…

• A range of debt solutions to suit different circumstances.
• Tailored advice to help you decide how to manage your debts.
• A friendly and professional service from trained advisers.
• A commitment to ‘keeping it simple’ where we can.
• A great track record of helping people overcome their debts.

Debt Help Australia is an authorised online representative of the Insolvency Administration Services Pty Ltd (RDAA 1337). This gives you extra peace of mind that you’ll get honest, professional advice, and that your personal information will be kept confidential at all times.

Take your first step towards clearing your debts today

It doesn’t matter how big or small your debts, or who you owe money to. The sooner you get in touch with us, the sooner we can help.

Start by exploring our website to find out about our different debt solutions. When you’re ready to get in touch, our advisers will be on hand to help you further.

Debt solutions at a glance

The table below gives you some key facts about each of our services, so you can get an idea of which options might suit you. It’s important to note that any debt solution is likely to adversely affect your credit rating

Informal Arrangements

It doesn’t matter how big or small your debts, or who you owe money to. The sooner you get in touch with us, the sooner we can help.

Start by exploring our website to find out about our different debt solutions. When you’re ready to get in touch, our advisers will be on hand to help you further.

Debt Agreements

The table below gives you some key facts about each of our services, so you can get an idea of which options might suit you. It’s important to note that any debt solution is likely to adversely affect your credit rating

Personal Insolvency

The table below gives you some key facts about each of our services, so you can get an idea of which options might suit you. It’s important to note that any debt solution is likely to adversely affect your credit rating

Bankruptcy Assistance

The table below gives you some key facts about each of our services, so you can get an idea of which options might suit you. It’s important to note that any debt solution is likely to adversely affect your credit rating

Informal Arrangements

If you are struggling with your debt repayments then it may be possible to re-negotiate your repayments with your creditors to a reduced monthly payment.

Informal arrangements are agreements between you and your creditors that are not bound by legislation or formalised by contract.

Once your creditors are contacted and informed of your financial circumstances and it is demonstrated that you are unable to maintain your current contractual repayments, they will usually help you by accepting a reduced payment, extend the repayment period and may pause the interest and charges.

Although rare, not all creditors are obliged to agree to your offer. If one or more of your creditors reject the proposal then this may jeopardise your informal arrangement.

We can help assist you in negotiating an informal arrangement as we have working relationships with a majority of the institutional creditors. We are able to setup and submit your proposal on your behalf to your creditors and liaise with them on and on-going basis.

To qualify for an Informal Arrangement you must have unsecured debts over $8,000 and must be struggling with your current repayments.

Debt Agreements

A Debt Agreement is a legally binding agreement you can reach with your creditors if you can no longer afford to repay the debt. Only people who have been struggling with debt for some time can enter into a Debt Agreement.

A Debt Agreement is basically an arrangement with your creditors to pay an agreed amount that you can afford over a period of time (usually this ranges from 3 to 5 years). Although a Debt Agreement is an act of bankruptcy and does carry consequences including access to future credit and restrictions on practicing or licencing in certain professions, they are less severe than bankruptcy. You can keep your assets, you are able to travel, you can continue to be a Company Director. Although your name does get published on the National Personal Insolvency Index, unlike bankruptcy it is eventually removed allowing no permanent record. A Debt Agreement will reduce your debt, stop creditors calling, stop any more interest accumulating on your debts and in most cases you can settle your debts for less than what is owed. The balance will be legally written off.

To qualify for a Debt Agreement you must:

• Be insolvent.
• Have not been Bankrupt, entered into a Debt Agreement or given an authority under Part X of the Bankruptcy Act in the last 10 years.
• Have unsecured debts, assets and after tax income for the next 12 months all less than set limits.

Personal Insolvency Agreements

A Personal Insolvency Agreement provides a process for you to offer an arrangement to your creditors to satisfy your debts. The arrangement must be accepted by the majority of creditors and is legally binding.

A Personal Insolvency Agreement is usually administered by a Registered Trustee, but may also be administered by the Official Trustee.

A personal insolvency agreement works by A report is prepared for your creditors summarising and commenting on your financial position. A meeting of your creditors is called to consider your proposal and creditors will be asked to vote on the acceptance of your proposal.

No, not all creditors have to agree. The majority in number and at least 75% of the dollar amount of those creditors who decide to vote, and are entitled to vote, have to agree to your proposal.

As long as the majority in number and at least 75% of the dollar value of those creditors who decide to vote, and are entitled to vote, accept the proposal then it is legally binding on all creditors.

A Personal Insolvency Agreement does not impose the same restrictions as bankruptcy although there are some consequences including the inability to be a company director and possible employment restrictions depending on the industry licencing or professional body but only for the term of the agreement. You are able to travel, operate a business and apply for credit with no indexed restrictions. Subject to the terms of the agreement you are also able to retain your assets.

Bankruptcy Assistance

Bankruptcy is a last resort and has serious consequences. There are various options to deal with unmanageable debts. Before you make any decision or take any action you should speak to us first to ensure you have exhausted any alternative solutions.

Bankruptcy may seem an easy and attractive option if you want to deal quickly with your creditors. However it has consequences, which you should know about before you consider taking this step.

When you feel unable to pay your debts and you cannot come to a satisfactory arrangement with your creditors then bankruptcy may be your best option. You may voluntarily lodge a debtor’s petition to become bankrupt.

Before you declare Bankruptcy make sure you:

• Speak to a bankruptcy expert before making the decision, review every avenue and understand what declaring bankruptcy means and how it will affect your life.

If you are looking to declare bankruptcy or just require some advice on bankruptcy then please complete our short enquiry form to see if it is the right solution for you.