Get Debt Free | Bankruptcy | Debt Consolidation | Specialist

Options if you have been refused Debt Consolidation

If you have been refused a debt consolidation loan, you may wish to consider other options.

These options may include the following, particulary if you have unaffordable debt and  you are personally insolvent (ie cannot pay your debts as and when they fall due)

Debt Agreement is a legally binding contract by you and your creditors.

Debt Agreements were added to the Bankruptcy Act in 1996 to assist low income earners to repay your debt in an affordable payment plan. The agreement represents a compromise between you and your creditors.

Debt Agreement does not eliminate your debt—it aims to provide affordable payment terms.  Debt agreements are supported by Commonwealth legislation and are regulated by ITSA. A formal debt agreement will appear on your credit file for seven years and your name will be listed on the National Personal Insolvency Index for life.

If you think that Debt Agreement may be the best solution for you, contact us today. Our friendly staff will assess your situation.

A Personal Insolvency Agreement is similar to a Debt Agreement, however, it is for people who have higher levels of debt or income. View the statutory thresholds here.

Credit Card Crunch

Australians owe $44 billion on credit card debts and as the cost of living spirals out of control. Credit card interest rates have continued to rise.

The rate rise of 15 Australian credit card offers was 2.23% for cash and 3% for cash advances. As a result of these increases has been to push the average overall purchase interest rate on 153 Australian credit cards to 16.64% (up from 16.55%) and to 17.99% (up from 17.88%) on cash advances.

So which credit cards offer the best deals and which ones should we be steering clear of? The answer is none of them.

If you are struggling paying off your mounting credit card debts, speak to our debt consultants. We have debt solutions for you and get you out of debt within 36-48 months. The repayment can be arranged to suit your financial capacity. Conditions apply.

Bankruptcy Solution

Are you having too much debt that you unable to pay? In this desperate financial situation, you may think bankruptcy is your only option. It is important to seek professional advice from Get Debt Free before declaring yourself bankrupt.

Our staffs are specialising in Bankruptcy Solution for Australians. We will assess your extreme situation and help you to understand the consequences of bankruptcy in the long-term. Other informal agreement such as Debt Agreement & Personal Insolvency Agreement are also available.

Saying Good Bye to Credit Card Stress

Average of 86% Australians have more than two credit cards in the same household at least. Majority of them are lower income earners. Delaying repayment and over spending are the main cause of accumulating unpaid debts. Overtime, this debt is easily become unaffordable and out of control. Debt stress as the end of result cannot be avoided.

At the same time, Australian credit card providers boost up their marketing ambition by sending out large amount of application forms in your mailbox. Be aware! Don’t be tempted with those. As long as you have regular income from any source including government benefits, they will approved it straight away. It’s that easy! And if you can’t afford to pay your credit card, it is not their lost. It is the burden of you as credit card holder may get bad credit records as consequences. This even leads to bankruptcy easily.

To avoid credit card stress, destroy your credit card and pay all your debts. Don’t delay, speak to debt specialist today!

If you can’t afford the repayment but still have regular employment, don’t be stress! You maybe eligible for debt agreement. We will assess your situation to find best option before declaring bankruptcy.

Manage Credit Card Secret 5: Zero Interest Balance Transfer

Take advantage of zero interest balance transfer credit cards and keep doing your repayment. It will save you a lot of dollars. After your debt paid off, destroy the card and close the account immediately. Don’t think twice!

But if you are struggling with your credit card debt repayment, speak to us and we will find you other debt solutions available. Don’t let yourself bankrupt before considering other option available.

Prepaid Visa Credit Card Latest Trends

Did you know that you can get a prepaid VISA credit card at any Australia Post shops?

You can top-up credit from $20 to $2000. This is the best option to have a VISA credit card payment method. You can use it any time anywhere that you see VISA logo. No more late payment and interest charges. No long application procedure required. No more over spending your money because  it is your own money.  Good bye credit card debt stress.

if you are having difficulties in paying your current credit card debt, let our debt specialist find best solution to suit your situation.

Informal Agreement

An informal agreement may be best if you have low debt levels (less than $8,000) or you have 1 or 2 creditors only.

When you have more than 2 creditors it may become difficult to reach a solution with all creditors.  Even if you reach agreement with these creditors initially, an informal agreement is not legally binding on the creditors.  This means that the creditors may refuse to accept your informal proposal at any time (even if you make the payments you agreed) and demand full repayment of their debt.

In our experience if you have more than 2 creditors or owe more than $8,000 (collectively) an informal agreement may be less successful.

If you have more than $8,000 in debt and have more than 2 creditors then a formal debt agreement may be a more successful method to solve your debt problems.

Contact Us Today on 1800 98 10 70 if you wish to explore a formal debt agreement.

Credit Card Lenders in Australia

These are credit card providers in Australia:

  • ANZ
  • American Express
  • Aussie
  • Bank of Queensland
  • Bankwest
  • Bendigo Bank
  • BP
  • Citibank
  • Commonwealth Bank
  • Coles Group
  • CUA
  • Diners Club
  • GE Money
  • Heritage
  • HSBC
  • IMB
  • Jetstar
  • Macquarie Bank
  • Members Equity
  • National Australia Bank
  • Qantas American Express
  • St George
  • Suncorp
  • Virgin
  • Westpac
  • Wizard
  • Woolworths

If you unable to pay credit card debt from any Australian lenders above, contact us for debt solutions.

When are other banks cut their Interest Rate?

As you may now National Australia Bank has trimmed its variable mortgage rate, but by little less than the RBA and other major banks, sparking a furious reaction from the Treasurer.

NAB would trim its standard variable lending rate by 20 basis points to 7.47 per cent, starting from Monday, 7 November 2011.

This move fell short of its rivals’ offerings. ANZ Bank this morning joined Westpac and Commonwealth Bank in passing along in full yesterday’s Reserve Bank interest rate cut to customers.

If you have personal loans and unable to keep ahead the repayment, we have range  of debt solutions for you. Contact us today to be debt free.

Get insurance policy and don’t risk your life

Whether you are single or family and you have debts i.e.mortgage or credit card debts, it is compulsory to have insurance for your peace of mind. You may ask an insurance broker which type of policy you should get. Your banks would also recommend based on your situation. Get more advice the better your decision will be.

If you are struggling paying off your credit card debts, speak to us now and our staff will try to find debt solutions. Bankruptcy may not be the best option for your situation. We have range of debt solutions to suit you.

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