Informal Agreements Australia

Pay just ONE easy repayment

Your payment plan is based on what YOU can afford. Making sure you can still live and enjoy your life, whilst becoming debt free.

Get a rental property or insurance

Rental agencies and insurance companies will often not approve applications when you have been in an insolvency arrangement. With an Informal Agreement, you can confidently answer this question with a "NO."

Effect on your job and employment contracts

Informal Agreements do not affect your employment. If you are asked if you’re in an insolvency agreement or have ever been, you can confidently say "NO."

Stop debt collector calls

No more worrying each time your phone rings. Your creditors will have to call us, instead of you.

#FINANCIALFREEDOM

What is an Informal Agreement?

An Informal Agreement is an agreement with your creditors that will help you overcome your debt struggle, without...

a long-lasting impact on your Credit Report.
the severe consequences of formal agreements, like Debt Agreements and Personal Insolvency Agreements and of course, Bankruptcy itself.
any effect on your employment.

Beyond Fantastic Results for Our Clients

These are snippets from a client's ACTUAL credit report after engaging in a Beyond Debt Informal Agreement.

Before

After

CASE STUDY

Example of a Informal Agreement client

Chris’s expected repayments to his 5 creditors, before his Informal Agreement, totalled $1,605 per month - this amount was not affordable for Chris. The payments we were able to negotiate with Chris’s creditors, resulted in repayments of $800 per month.

We were able to demonstrate to Chris’s creditors that he was in hardship and they accepted the Informal Agreement Proposal. We were also able to negotiate with Chris’s creditors to have all interest and fees frozen on his accounts.

Because Informal Agreements require creditors to agree to your offer, it is wise to have Beyond Debt on your side.

Total Debt

Total Amount Paid

Paid Over

Monthly Payment

** Informal Agreement

Total Debt

$42,000

Total Amount Paid

$28,803

Paid Over

3 Years

Monthly Payment

$555

* No Informal Agreement

Total Debt

$42,000

Total Amount Paid

$158,898

Paid Over

66 years 5 months

Monthly Payment

$853

first month decreasing

* From ASIC's Moneysmart.com.au Credit Card Calculator

**Excludues an administration fee of $3,500 (approx and assumes a debt reduction of 30% average.)

HOW IT WORKS

The Informal Agreement process in 5 steps

1

Call Beyond Debt for a free consultation. We will evaluate your financial situation so that you can decide whether an Informal Agreement is right for you.

2

You engage Beyond Debt to act on your behalf.

3

We perform an assessment of your financial position and determine a more accurate repayment amount and one which is more affordable for you.

4

An Informal Agreement proposal is put together and forwarded to your creditors.

5

An agreement is negotiated, and agreed to by your creditors.

#FINANCIALFREEDOM

Who can do an Informal Agreement?

Anybody experiencing verifiable financial hardship.
This can be due to a decrease in income and/or an increase in expenses.
If you have to cut back significantly on living expenses to make your normal debt repayments and usually this just isn’t possible without considerable hardship.

Common reasons for the hardship are:

Poor budgeting skills along with overuse of credit.
A death in the family.
Loss of a job and the new job does not pay as much.
Poor budgeting skills along with overuse of credit.
The closure of a business.
Illness or injury, of yourself or within the family.
Your living arrangements have been impacted by divorce or separation.

FREQUENTLY ASKED QUESTIONS

A Couple Things People Ask

Once creditors have approved my Informal Agreement, can they cancel the plan whenever they feel like it?

Whilst an Informal Agreement is not a legally binding agreement, once your creditors have agreed to it, it is highly unlikely they would cancel it. The best way to ensure this never happens, is to make your repayments on time.

How long will the agreement last?

The term of each plan is tailor-made for your circumstances, depending on what your creditors agree to and what you can afford.

Will my creditors call me?

Once Beyond Debt have been appointed, we will advise your creditors that they are now dealing with Beyond Debt only, meaning you can answer your phone without the fear of creditors calling.

What types of debts can be included?

There is no set rules for what can and can't be included in an informal agreement. Generally secured debts can not be included but give us a call to see what we can do.

Does an Informal Agreement stop legal action?

An Informal Agreement will usually stop any further legal action in relation to the debts involved.

Beyond debt Informal Agreement

Consolidates Your Debts into one Affordable Payment