I can breathe now – Gavin from Adelaide helped me so much! I was ready to go into a "debt agreement" Part 9 solvency. In other words bankrupt. Now I have chosen MyBudget, it is not needed! Thank you MB!!!
Travie | MyBudget client
Thinking about a Part 9 Debt Agreement?
Before you sign a legally binding contract that impacts your credit file for 5 years, explore a structured, credit-saving debt repayment plan.
- Stop Debt Collectors Calling
- Reduce Interest Fees and Charges
- Negotiate with Banks and Creditors For You
Free appointment | No long-term, lock-in contracts
Kim & Bob | MyBudget clients
Kim & Bob | MyBudget clients
Why People Consider Debt Agreements
People often start looking at debt agreements when:
- They’re falling behind on repayments
- Creditors keep calling
- Credit cards are maxed out
- They feel like they’re running out of options
The good news is a formal debt agreement isn’t always the only path forward.
95% of clients reported not missing a repayment since joining MyBudget
Tammy Barton | MyBudget Founder & Director
Why Choose MyBudget?
When you look at your debt through a clear, forward-planning lens, the shame disappears and solutions appear.
- Caring Money Coaches, powerful technology: We combine powerful budgeting technology with expert Money Coaches who genuinely care about your financial success
- Total visibility 24/7: Track your long-term forecast, view your spending habits, and see exactly when you will be debt-free via our client app
- No long-term contracts: We operate entirely on a transparent, fee-for-service model. There are no lock-in contracts because we believe in earning your trust every single day
A free 10-minute chat is all it takes to see how we could help you.
Debt Agreement FAQs
Can’t find what you’re looking for?
See more FAQs…
Speaking with MyBudget first can help you understand whether you need a Part 9 debt agreement at all. We review your complete financial position, build a realistic 12-month budget and explore other options that may have less impact on your credit record and future borrowing. This helps ensure you have considered every suitable pathway before committing to a formal insolvency solution with lasting consequences.
A Part 9 Debt Agreement can provide an affordable repayment pathway and may stop covered creditors adding interest or pursuing payment once it begins. However, it is a formal insolvency arrangement that can affect your credit report, future borrowing and public insolvency record. It also includes fees and does not remove a secured lender’s rights over your home or car. Explore suitable informal options and understand the consequences before proceeding.
MyBudget can review your income, expenses, debts, assets and priorities, then build a realistic 12-month budget showing what you may be able to afford. This can help you compare informal creditor arrangements, debt consolidation and formal insolvency options. Speaking to MyBudget does not commit you to a debt agreement. You can also contact the National Debt Helpline for free, independent and confidential financial counselling.
Depending on your circumstances, MyBudget may help with structured budgeting, hardship applications, collections support and plans to catch up on arrears. This support can relate to credit cards, loans, overdue bills, rent, rates, tolls, tax debts, legal fees or fines. If a formal Part 9 debt agreement is appropriate, MyBudget can introduce you to MyDebtSolutions, a registered Debt Agreement Administrator.
Owning a home does not automatically rule you out, but you must meet the Part 9 eligibility limits for income, unsecured debt and divisible assets. Your mortgage remains outside the agreement, so you must continue making repayments and your lender can still act if you fall behind. A debt agreement may also affect refinancing and future borrowing, so consider your longer-term property goals before proceeding.
No. A Part 9 debt agreement cannot remove accurate debts, defaults or other correct information from your credit report. The agreement itself will also be recorded on your credit report and the NPII for the applicable periods. MyBudget can help you understand the likely credit impact, review your complete financial position and explore less restrictive options before you commit to formal insolvency.
MyBudget can help you take the first step by reviewing your income, expenses, debts and assets and building a realistic 12-month budget. If a Part 9 debt agreement appears suitable, we can explain the next steps and connect you with our sister company, MyDebtSolutions, a registered debt agreement administrator. MyDebtSolutions will assess your eligibility, explain the fees and consequences, prepare your proposal and lodge it with AFSA for your creditors to vote on.
Kim & Bob | MyBudget clients
Real MyBudget Success Story
Real-life debt relief: Kim & Bob’s story
- Paid off $28k in debt from 12 different loans within 15 months of joining MyBudget
- Consolidated $38k in debt with MyBudget Loans, from personal loans, store cards, credit cards, and Zip Pay
- Saved thousands in late fees and charges.
In the Media
MyBudget has been featured in leading Australian media and trusted publications.
