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If you’re stressed out by the sheer weight of insurmountable debts, then Bankruptcy might be the right decision for you. If you can’t pay, you can’t pay. But it doesn’t have to be the end of the road. Here’s how we help.
We will stop the phone calls from Creditors, the Letters of Demand, we’ll stop Court action, Garnishee action, prevent the Sheriff from calling and most of all, we will stop the stress, that just grinds you down.
Furthermore, should you choose to go Bankrupt, your bankruptcy can be undertaken voluntarily or you can become bankrupt on the actions of a Creditor. If you have considered the alternatives and have decided that voluntary bankruptcy is your best option you will need to complete a Debtors Petition and Statement of Affairs, which we can assist with. Documentation also needs to be accepted by the Official Receiver in Bankruptcy for your bankruptcy to be granted.
Bankruptcy can offer a new beginning for some people, a fresh start in life if you like. But it is also not a decision you should take lightly. Bankruptcy has real and lasting consequences, and your Credit Rating is affected for five (5) years.
If you are considering going bankrupt, you need to talk to our team at Get Out of Debt Sydney. We will guide you through the process, and assist you each step of the way.
If you’re struggling with paying your unsecured debts, then the best solution might be to consider a Part IX Debt Agreement. A Debt Agreement is a negotiated compromise with your creditors, which, if agreed to by 50% or more of your creditors becomes legally binding.
A Debt Agreement freezes all interest on provable unsecured debts upon acceptance of your debt agreement proposal by creditors. This allows you to pay back the debts over an extended period of time, with no interest, at an amount per week you can afford.
A Debt Agreement offers a payment plan to pay back your debts, rather than walking away.
Debt Agreement is not the same as going bankrupt, and is a genuine alternative option. However by submitting a debt agreement proposal you are committing to “an act of bankruptcy”.
A successful Debt Agreement will allow you to set up a simple weekly payment, via direct debit to repay your creditors. Your debt agreement will be listed on your credit report for a five year period, once your debt agreement is repaid in full, you can apply for new lending.
There are also other options available to you to solve your debt crisis. These can include an informal arrangement with your creditors, as well as a range of refinancing options. We can advise on which option is best for you.
An informal arrangement with your creditors may be the best solution. If you have an income, agreement could be made to repay debts over a period of time. This type of informal arrangement may not be binding on creditors, some creditors may change their minds or you might default on the payments, all of which could result in creditors continuing to pursue you for the debts. We can help you with doing this.
Refinancing your existing mortgage or home loan could also help you lower your repayments and free up more money for living.
Mortgage refinancing offers a real solution by utilizing the equity available in your property to repay other high interest debts.
It may also allow you to place your current monthly repayments from all your debts into one convenient repayment, meaning you end up paying less each month. Again, this is something Get Out of Debt Sydney can help you achieve.
If you’re ready to get on top of your debt challenges then Contact Us Now using the form below. Please also advise the best time for us to call you within your message.
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I just wanted to say thank you so much for your guidance through this and how much your advice and help made all the difference in finally having this issue resolved, it has been a great load off my family shoulders and I am very grateful.
I would like to take this opportunity to thank you for your assistance with my past financial difficulties. I found all the people I dealt with at Declare Bankruptcy Australia very friendly and efficient, making me feel very comfortable in my difficult times.
I will certainly be recommending your organisation to other people in my position.
The team at Get Out of Debt Sydney are ready to assist you, where ever you are located, whether here in New South Wales, or indeed anywhere else around Australia. If you would like to give us a call to discuss your debt situation with one of our friendly, supportive team members, simply contact us now using the contact form on this page.