Informal Debt Agreement
An Informal Debt Agreement is when we negotiate a permanent freeze on your interest – allowing you to pay your debts back over a 5 year period, all with one easy payment! Unlike a Part IX Debt Agreement, this WILL NOT default your credit file.
Informal Debt Agreement
An Informal Debt Agreement is when we negotiate a permanent freeze on your interest – allowing you to pay your debts back over a 5 year period, all with one easy payment! Unlike a Part IX Debt Agreement, this WILL NOT default your credit file.
What is an Informal Debt Agreement?
In simple terms, an Informal Agreement is a payment plan put in place with your creditors without impacting your credit file. In general, the interest is frozen and the debt is paid off between 3 – 5 years.
An Informal Debt Arrangement is not a formal agreement recognised by legislation. It is an agreement between you and your creditor.
It allows you to resolve your debt issues without suffering the harsh consequences of Part 9 Debt Agreement or Bankruptcy and does not impact your credit file. Once you enter into an Informal Debt Agreement, your creditors cease recovery actions and those harassing collection calls cease.
The great thing about an informal debt arrangement is that you will not be listed on the National Personal Insolvency Register for life and there are no restrictions on your income, travel, homeowner status, employment licenses and being a director of a company.
How do we help?
No impact to your credit score
Stop interest and fees
Stop the calls
No effect on your employment
Get a rental property
Regular repayment history
What is an Informal Debt Agreement?
In simple terms, an Informal Agreement is a payment plan put in place with your creditors without impacting your credit file. In general, the interest is frozen and the debt is paid off between 3 – 5 years.
An Informal Debt Arrangement is not a formal agreement recognised by legislation. It is an agreement between you and your creditor.
It allows you to resolve your debt issues without suffering the harsh consequences of Part 9 Debt Agreement or Bankruptcy and does not impact your credit file. Once you enter into an Informal Debt Agreement, your creditors cease recovery actions and those harassing collection calls cease.
The great thing about an informal debt arrangement is that you will not be listed on the National Personal Insolvency Register for life and there are no restrictions on your income, travel, homeowner status, employment licenses and being a director of a company.
How do we help?
No impact to your credit score
Stop interest and fees
Stop the calls
No effect on your employment
Get a rental property
Regular repayment history
Download our app & watch your balance decrease without interest compounding
This app is the first of its kind in Australia. See your debts in one place without having to login to numerous internet banking sites!
Just one regular payment!
View your live credit score
Stop the calls
We protect your credit rating
No Debt Agreements
Freeze interest & repayments
Reduce debts by up to 80%
Full Support
Download our app & watch your balance decrease without interest compounding
This app is the first of its kind in Australia. See your debts in one place without having to login to numerous internet banking sites!
Just one regular payment!
View your live credit score
Stop the calls
We protect your credit rating
No Debt Agreements
Freeze interest & repayments
Reduce debts by up to 80%
Full Support
The Process
How does an Informal Debt Agreement work?
Everything you need to know in just 5 easy steps!
Get in touch with ChapterTwo
Call ChapterTwo on 1300 344 433 or submit a contact form and we will call you at a time that best suits you. We will evaluate your situation so that we can make sure an Informal Agreement is right for you.
Engage with us
After reviewing our proposal you engage ChapterTwo to be your authorised representative and to act on your behalf.
We assess your situation
We assess your financial situation and determine what is affordable to you.
We place your accounts on hold
We negotiate directly with your creditors. We start by placing your accounts on hold for 6 months. After the initial 6 months we put forward the Informal Agreement proposal to your creditors.
We negotiate your agreement
We negotiate the agreement with your creditors and ensure it is affordable for you.
How does an Informal Debt Agreement work?
Everything you need to know in just 5 easy steps!
Get in touch with ChapterTwo
Call ChapterTwo on 1300 344 433 or submit a contact form and we will call you at a time that best suits you. We will evaluate your situation so that we can make sure an Informal Agreement is right for you.
Engage with us
After reviewing our proposal you engage ChapterTwo to be your authorised representative and to act on your behalf.
We assess your situation
We assess your financial situation and determine what is affordable to you.
We place your accounts on hold
We negotiate directly with your creditors. We start by placing your accounts on hold for 6 months. After the initial 6 months we put forward the Informal Agreement proposal to your creditors.
We negotiate your agreement
We negotiate the agreement with your creditors and ensure it is affordable for you.
Recent Case Studies
The Pregnant Pause
Debt – $90,000 in Credit Card & Personal Loans
Solution – Informal Debt Agreement
Overview
Our client started experiencing financial hardship when his wife fell pregnant with their first child and faced complications during the whole pregnancy and after the birth of their child. This warranted ongoing medical attention and she wasn’t able to work.
Our client wanting to do whatever it takes applied for credit cards and personal loans to get by and fell into the trap of using his credit facilities to cover medical costs and the shortfall in income due to his wife not working.
Soon his financial situation spiralled out of control and our client was unable not meet his debt repayment obligations. This significantly impacted our clients mental state, as being the sole provider for the family this placed significant amount of stress on him. Feeling trapped and stressed with the constant bombardment of phone calls from debt collections departments, our client contacted ChapterTwo for help.
How we helped:
Recent Case Studies
The Pregnant Pause
Debt – $90,000 in Credit Card & Personal Loans
Solution – Informal Debt Agreement
Overview
Our client started experiencing financial hardship when his wife fell pregnant with their first child and faced complications during the whole pregnancy and after the birth of their child. This warranted ongoing medical attention and she wasn’t able to work.
Our client wanting to do whatever it takes applied for credit cards and personal loans to get by and fell into the trap of using his credit facilities to cover medical costs and the shortfall in income due to his wife not working.
Soon his financial situation spiralled out of control and our client was unable not meet his debt repayment obligations. This significantly impacted our clients mental state, as being the sole provider for the family this placed significant amount of stress on him. Feeling trapped and stressed with the constant bombardment of phone calls from debt collections departments, our client contacted ChapterTwo for help.
How we helped:
Take control of your debt today
The journey to financial freedom is just 60-seconds away. Simply fill in the form below to get started.
Once completed we will be in touch with a plan to start reducing your debts.
Contact Us
Take control of your debt today
The journey to financial freedom is just 60-seconds away. Simply fill in the form below to get started. Once completed we will be in touch with a plan to start reducing your debts.