DIY Debt Agreement
Are you in debt?
Tempted by the offers of debt consolidation agencies?
Debt consolidation agencies appear to be popping up on every corner at the moment, but what exactly are they?
Debt consolidation agencies specialise in helping you setup a formal debt agreement (FDA) with your creditors. While there are benefits to FDA's, you need to make sure they are right for you. A FDA is:
- registered with the Insolvency Trustee of Australia (ITSA)
- recorded on your personal credit file
- handled by a third party so you don't have to deal with your creditors directly
If you are considering a FDA you should read more of the consequences and how they work here.
But what if a FDA isn't right for you, what options are left?
You can always try your hand at setting up an informal agreement directly with your creditors.
To learn more about your creditors and how to setup an informal agreement, login and click here.
You must be logged in to access the informal agreement and registration is free and easy for new users.