Debt Help In Australia

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Looking for Debt Help in Australia?

Unfortunately, unless you win lotto, there is usually no quick fix to get yourself out of debt. But the important thing is to take steps to change your financial future. With the right debt help in Australia, it is possible to pick the best debt solution for you and put a sensible plan in place to get your finances back under control again.

At Fix Bad Credit, our mission is your financial freedom. No matter where you live in Australia, one of our debt solution experts will carefully assess your personal and financial situation, so we can tailor a personalised debt solution package to best meet your goals. Your personalised debt solution package will contain options to help you take back control of your debt and start you on your journey to financial freedom.

There are both informal and formal debt solution options available to you, dependent on your specific circumstances.

What is an Informal Debt Solution?

If you’re having difficulty making your repayments, you may want to try to reach an informal agreement with your creditors. Whilst informal debt solutions are not legally binding, they are likely to have fewer serious consequences than formal debt arrangements. An informal debt arrangement involves entering into an informal payment plan with your creditor(s) to enable you to pay your debts off over time – potentially deferring payments until you get back on your feet or making your payments more management and affordable.

The negotiated new payment plan could include paying your debts in a single, lower lump sum or continuing with a different repayment plan involving one, or a combination of options.

What are your Informal Debt Solution Options?

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A Debt Moratorium, also known as a payment holiday or payment deferral, to either stop or reduce your payments and interest over a short period of time (usually between 3 to 12 months) to enable you to get back on your feet or to put other arrangements in place.

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Debt Consolidation – by bringing your existing multiple debts together into one single new loan, subject to a single interest rate, with a single regular (usually monthly) repayment it makes managing your debts significantly easier.

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Debt Negotiation – this involves discussions with your creditors to informally renegotiate the terms of your loan, this might mean settling the debt for less than the full amount, lower interest rates, reduced fees and/or extending the length of the loan to reduce the size of your minimum payments.

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Debt Settlement – If you have access to a lump sum, a debt settlement may help. A debt settlement is an informal arrangement with your creditors that offers less than the full amount you owe in order to wipe out the debt completely.

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A longer-term informal arrangement – a long term informal arrangement can last several years and often involves reducing your minimum repayments, reducing or freezing the interest owed over the period if you need more time to get back on your feet or to put other arrangements in place.

What is a Formal Debt Solution?

Formal debt solutions have been developed and implemented by the Australian Government under the Bankruptcy Act 1966, to provide options for people who find themselves in situations where the debt they carry becomes unmanageable. It is important that you fully understand what you are agreeing to before signing up to them, as whilst they have benefits, there can be serious consequences. Your formal debt solutions options are:

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Debt Agreement – A formal legally binding (Part IX or Part 9) Debt Agreement helps you deal with unmanageable unsecured debts such as credit cards or personal loans. Your debt will likely be reduced to an agreed amount and the remainder you will be able to pay back through affordable regular periodic or lump sum payments.

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Personal Insolvency Agreement – A Personal Insolvency Agreement is a formal, legally binding arrangement that is between you and your creditors to satisfy your debts. The arrangement could consist of a contribution of your income over a period of time or an assignment of your assets. It is the last option considered before filing for bankruptcy.

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Bankruptcy – Bankruptcy is the formal process of being declared unable to pay your debts. When you become bankrupt, you don’t have to pay most of the debts you owe.

What do you need to know before entering into a debt arrangement?

Understanding the terms of any debt arrangement, both formal and informal, is critical before agreeing to anything. Ensure you have enough information to be able to select an option which is most favourable to you, so your financial situation isn’t impacted even further. Don’t be afraid to ask questions. If a part of the agreement or contract is unclear to you, make sure to clarify anything first before signing on the dotted line. We recommend you talk to a debt expert about your options.

How can Fix Bad Credit help?

For more information on what might be the best option for you, call one of Fix Bad Credit’s debt solution experts on 1300 729 757. Our debt solution experts can help you assess your financial situation for free and identify debt solution options tailored to your specific personal financial circumstances, using their in-depth knowledge of credit law and debt processes.

Debt is one of the few stressors in life that doesn’t go away. The worry is always there, along with the feeling that there is nothing that can be done about it. Money and debt worries cause heavy emotional and mental burdens, affecting your health, your work, and your relationships. But just know you’re not alone. If you’re feeling overwhelmed by money matters and looking for debt help anywhere in Australia, we’re here to help you find relief from your debt stress.

Talking about debt can be daunting. It’s hard to know where to start or what your options are. However, you can take a small step right now by picking up the phone and giving one of our debt solutions experts a call.

Get Your Free Credit and Debt Assessment Now

To help you take control of debt and achieve financial freedom




    Reviews

    CJ was amazing! Instead of trying to sell me something we didn’t need, he has directed us to someone who could actually help us get the proper finance options we needed. Thank you for doing the right thing and help us get to where we need to be.
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    07:17 05 Aug 22
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    11:41 04 Aug 22
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    luke messineo
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    aqueel Haisam
    02:36 29 Jun 22
    ONE WORD... AMAZING!CJ was just phenomenal to deal with, from start to finish and constantly reassured me that he would get it all sorted for meI had so many questions and he was beyond patient throughout the entire process (which was so damm easy might I add) and literally had everything fixed up within less than half the time originally advised.These guys are incredible at what they do and would defiantly 100% recommend to anyone.Genuinely changed my life so thank you!
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    20:34 29 May 22
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    09:52 26 Apr 22
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    Andrew Padayachy
    04:06 16 Apr 22
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    Adele Barbara
    07:21 13 Feb 22
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    Myself and my partner engaged another credit repair company to assist with default removals, and cleaning up the credit file.Unfortunately they took our money, and that was all. The ombudsman became involved, but in the end we were left with nothing.The Fix Bad Credit team offered to help. And they certainly did that. Credit score is now above 800 and they are now assisting us with a $60k debt.It’s been life changing. I strongly recommend if you have debt, or credit issues, to reach out to the team at Fix Bad credit. Thanks again Carey absolute legend!!!
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    RICKY B
    07:54 13 Jul 21
    I went to the Fix Bad Credit team as I was living with the burden each month trying to pay back debt due to unforeseen life circumstances that had occurred over the last few years which often led me taking time off work and only making the minimal payments. As a single parent I felt I wasn't getting anywhere. The Fix Bad Credit team have negotiated a massive saving for me and managed to consolidate the remaining debt into monthly affordable payments without interest being incurred. Any issues I may have had on my credit report and have now been removed. I look forward to being able to purchase a home in the future which wouldn't have been possible before. Thanks so much Fix Bad Credit Team, super grateful.
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    02:00 09 Jul 21
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    Ignite Global Group
    06:40 21 Jun 21
    Fantastic. Defaults removed from Credit report, and now debt free. couldn't have done it without your help. Stoked.
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    06:25 21 Jun 21
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    Ken C
    20:47 20 Jun 21
    I couldn't be happier with Fix Bad Credit . After a relationship breakdown I was left with a substantial amount of debt , and ended up with a coupe of defaults , and RHI info on my credit file .13 weeks later I'm debt free, I've been approved for a credit card, and saving for a house.If you need to change your financial situation , these guys are the real deal . Thanks so much
    Kelly Care
    Kelly Care
    09:24 20 Jun 21
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    Frequently Asked Questions

    Can I really become debt free?

    Our experienced team have been helping Australians get out of debt for over 10 years. No matter your unique situation, we have a solution to help you achieve a debt free life.

    How can Fix Bad Credit help me with my debt?

    Fix Bad Credit’s mission is to help you take control of your debt and achieve financial freedom. We will undertake a free confidential assessment of your current finances, taking the time to fully understand your unique financial situation to tailor the best debt solution options to meet your needs. We provide you with as much information as possible upfront, so you can make an informed and confident decision about the debt solution that’s best for your particular circumstances and budget. We then deal directly with your creditors, you only deal with the same friendly credit and debt solution expert that you have since day 1. We take care of the pain, so you can get on with living.

    How do I stop the debt collector calling me?

    Working with Fix Bad Credit, our legal team will contact your creditors, and stop those annoying phone calls, once and for all. Your stress will be less and you’ll no longer need to worry every time your phone rings.

    How much of my debt will I need to pay back?

    Fix Bad Credit has a proud history of helping our members reduce the debt they need to repay by 40% – 90% of what they owed before contacting us. Every situation is different, but the sooner you reach out, the sooner we can assess your particular situation and provide the best debt solution options available to meet your particular circumstances and budget.

    How It Works

    Becoming Financially Free Is Easier Than You Think

    Step 1: Identify

    Asking for help is the hardest part. Which is why you get a personal debt and credit solution expert to confidentially review your unique situation and work with you every step of the way

    Step 2: Plan

    We then work with you, providing options for improving your credit, reducing debt and managing any repayments

    Step 3: Repair

    We can then assist with your chosen options each step of the way, implementing your unique credit and debt solution strategy

    Step 4: Monitor

    We offer an on-going service to continue to monitor your credit situation, regularly reviewing any changes to your credit score and identifying potential problems before they affect your financial well-being.