The following are real examples of Debt Agreements that we have recently had approved. Your circumstances will be different but you are able to see what can be achieved.

Debt Agreement


Debt Agreement Example 1


Bello was in a terrible mess. He had 2 creditors who had already taken him to court and one of them was threatening bankruptcy. He had a house with a mortgage which was the family home. He wanted to keep his home.

He had a Mortgage with his wife. House was worth $585,000.00 and they owed the bank $366,258.00.

He also had Credit Card 1 $18,622.00, Credit Card 2 $1,464.00, Credit Card 3 $21,003.00, Credit Card 4 $5,577.00, Credit Card 5 $22,599.00 and a Telco debt of $4,280.00. Total $73,545.00. 3 of those credit cards had been sold to the Debt Purchasing companies, Credit Corp, Lion Finance and Panthers Finance.

His wife didn’t work and he didn’t earn enough to pay everyone. His son, who still lived at home and works wanted to help save the family home. His son said he could comfortably afford to help his dad with $250.00 per week.

We got Bello’s creditor’s to accept $250.00 a week for 5 years to pay out all that debt. All interest was frozen. All Legal actions were frozen. He saved over $8,000.00 on what he owed and Tens of thousands of dollars in interest. He couldn’t believe this could happen.

Debt Agreement Example 2


Janice had had a bad run with employment. Through no fault of her own she lost a number of jobs in a row and it caused her finances to fall behind.

She owed $40,925.50 to Personal Loan 1 $14,130.00, Misc debt $990.00, Credit card 1 $6,963.00, Credit Card 2 $4,261.00, Credit Card 2 $4,089.00, ATO $730.00 and Personal Loan 2 $9,762.50. All of them were behind with Debt Collectors hounding.

From the moment she asked us to help we dealt with her creditors. When she explain her expenses we worked out she could comfortably afford $150.00 per week to pay to her debts.

We prepared a Debt Agreement proposal for her creditors to consider which was for $150.00 per week over three years to clear all the debt. That meant she paid $23,400.00 over 3 years to clear over $40,000.00 of debt. The amount she saved on the total total along with the frozen interest saved her tens of thousands of dollars.

Debt Agreement Example 3


Roman was struggling with his situation. He had $106,048.00 of Debts. He was also buying a house worth $580,000.00 with his brother. They had combined mortgages of $330,680.00 owing to the bank. He also had $27,100.00 in shares. He wanted to sort out the debts but protect his house and the shares.

His debts were: Credit Card 1 $15,644.00, Credit Card 2 $8,120.00, Credit Card 3 $16,478.00, Credit Card 4 $24,899.00 and Credit Card 5 $40,906.00.

He could see no end to the credit card debt. The interest was going up and up and he was sacrificing his day to day expenses just trying to keep even.

We prepared a Debt Agreement for him that was approved by his creditors. He now pays $390.00 per week for the next 5 years. That means that $101,400.00 paid over 5 years will completely clear all of those credit cards. He saved thousands immediately and saves over $1,700.00 in interest every month because his interest was frozen.

Contact an expert

Give us a call or complete the book a phone call tab and you will get to speak to an experienced practitioner. Not a sales consultant but somebody who actually prepares the proposals and negotiates with your creditors.