Help with Debt Agreement

Are you considering a formal debt agreement because your funds are overcommitted? Does it feel like your finances are spinning out of control? Are you afraid to answer your phone because collectors have been harassing you? Are your work and personal relationships suffering?

We understand. That’s why MyBudget offers a free, independent assessment to confirm if a formal debt agreement is the right debt solution for you.

MyBudget recommends debt solutions which are based on your specific circumstances.

The best place to start is by reflecting on the factors which led to your current situation. For many people, unmanageable debt has resulted from a habit of overspending. It’s very easy to develop debt over time by living off your credit card, taking out loans to pay bills or to consolidate other credit. It’s then very difficult to break the cycle of living pay-to-pay.

Many people who approach MyBudget have already made the assumption that they’re personally insolvent and that a formal debt agreement is their only option. For most of them, that assumption turns out to be wrong. In fact, 97 percent of MyBudget clients are able to avoid entering into a debt agreement through alternative debt solutions.

You must keep in mind that the consequences of a formal debt agreement are serious and far-reaching. Formal debt agreements are regulated by the federal government. A formal debt agreement will appear on your credit file for seven years and your name will be listed on the National Personal Insolvency Index forever. In fact, the consequences are not dissimilar to bankruptcy.

MyBudget will go through all of your possible debt solutions.

The best way to assess if personal insolvency is right for you is to fully understand all of the possible debt solutions for your specific situation. Our debt solutions take into account your entire financial situation and create a realistic financial plan that addresses all of your problems.

It starts with a free consultation where we will assess your financial situation in detail. As well as analysing your income and expenses, we closely examine your debt situation. Even if you decide not to proceed with MyBudget, your customised budget plan and our independent advice are yours to keep for free.

If a formal debt agreement turns out to be in your best interest, we can assist you through the entire process. MyBudget is a registered debt agreement provider with the Insolvency Trustee of Australia (ITSA).

Personal budgeting will become even more crucial if you do enter into a formal debt agreement because you will need to ensure that your payments are always made on time and that you stay on top of your other bills and commitments.

MyBudget can take care of all your payments for you. You’ll never have to worry again whether you have enough money to cover your bills and living expenses. MyBudget’s personal budgeting system is also extremely flexible. As your life changes, your budget will change with you.

A formal debt agreement is very often not the best debt solution.

What sets MyBudget apart, is that we are able to help clients avoid a formal debt agreement in 97 percent of cases. In fact, the large majority of our clients have paid their way out of debt while avoiding the very serious consequences of personal insolvency.

If you do become a MyBudget client, we can communicate with your creditors on your behalf and negotiate realistic payment plans with them—repayments based on what you can afford. Our vast experience in debt negotiation means that we know what sorts of terms are achievable. In 2011 alone, we successfully renegotiated over 220,000 payments to creditors for our clients. In many instances, we can negotiate for interest rate and repayment reductions or even arrange for payments to cease for a period of time while you get back on track.

MyBudget’s debt solutions helped Kelly and Mark reduce their debt and start saving. We can help you, too.

Kelly and Mark were feeling stressed and overwhelmed by their debt. There was never enough money to cover all of their bills and repayments. From a seemingly inescapable position, they were able to increase their mortgage payment, pay off their car loan and have savings in the bank after only 12 months.

Book your free debt agreement assessment today. The right debt solution for you is only one phone call away.

A free consultation with MyBudget is an opportunity to gain deep insights into your financial situation and all of your options. Even if you decide not to become a MyBudget client, the budget plan we prepare for you is yours to keep at no charge.

Change doesn’t have to be difficult. The first step is always the hardest, but in this case it’s as simple as making a phone call. Take the step today to get out of debt and start saving. It’ll be the best decision you’ve ever made.