Why consult a debt expert for advice?
Debt Free is an industry leader and has been providing expert debt advice to Australians for years. Solving personal debt problems can be very complicated and as such you should always consult with an industry expert.
Debt Free was established in 2006. The managing director is a Chartered Accountant and a Registered Trustee in Bankruptcy, so you can be confident that you will get expert debt advice.
We offer a toll FREE phone service and our initial advice is free of charge and without obligation. Our personal debt advisors are highly trained professionals and will treat you in a dignified manner. Your personal details will be kept strictly confidential.
Act now if you are struggling with debt
With the Global Financial Crisis now taking a grip in Australia you are not alone if you are struggling to pay your bills. If you are struggling with debt, we recommend that you obtain professional advice and act upon that advice without delay.
Do you want to avoid bankruptcy?
Many Australians want to avoid the stigma and harsh restrictions which bankruptcy may place on your life. Bankruptcy can be very intrusive for example:
- you will have to surrender your passport
- some of your assets may be sold by your Trustee
- your income will be subject to a formal assessment process for at least 3 years
- your bankruptcy can be extended if you commit any offences
- you have to disclose your bankruptcy on credit applications if you obtain credit more than $4,692
If you want to avoid bankruptcy, consider some alternatives debt solutions:
A Debt Agreement is a formal agreement which you can put in place with your creditors. It is legally binding if at least 50% of your creditors vote (measured by the value of their debt) in favour of your Debt Agreement proposal. The benefit of a Debt Agreement is that the interest on your debt will be frozen and you will be protected from bankruptcy. You will also only have to pay one single affordable payment per month into your Debt Agreement.
A Personal Insolvency Agreement is like a Debt Agreement, in that it is a formal agreement which you can put in place with your creditors. Typically, we only recommend a Personal Insolvency Agreement if you have unsecured debts which exceed the statutory threshold (which is currently set at $84,484.40). This threshold is revised every six moths.
A Debt Agreement or a Personal Insolvency Agreement will provide attractive benefits, which may include:
- consolidate your unsecured debts into one single monthly payment
- protect your assets from seizure
- freeze interest & charges
- stop creditors hassling you
Strict application criteria apply for a Debt Agreement or a Personal Insolvency Agreement. Debt Free Pty Ltd has the discretion to decline your application.
We have already helped hundreds of Australians with professional advice, so try us today on 1800 676 598.