‘My name is Jeff and I am an office Manager working in Sydney. Three years ago my life was ‘grey’ with 5 credit cards, a Bank personal loan and a well known Finance Company Debt preventing me from sleeping, enjoying life and having a strong relationship.

I worked so hard to earn a good salary only to see very little of it left on payday each month. The Banks and Finance Company got it all and to make matters worse, the debts only reduced marginally each month due to the high interest rates charged and the size of the debts – I was running on the same blade of grass

I contacted Get Debt Free and was introduced to one of the  Debt Advice Specialists, Mr Jack Panaghis. The service I received from Jack was excellent and to be quite honest, it was difficult to believe that they could do what they said was possible. Today, 3 years later, they proved me wrong and all my commitments with the outstanding loan companies no longer exist.

Don’t waste another hour –call them and speak to one of their very friendly, well trained and understanding staff and START LIVING AGAIN.

JD – Sydney’

After searching the internet in a moment of desperation looking for solutions we came across Debt Free. After reading their website we decided to give them a call. I spoke to who I consider an angel from up above by the name of “Amber” who gave me professional advice and options I was not aware of.

Bankruptcy was the only solution as far as we knew but after a few discussions with Debt Free, the best solution for us was a Personal Insolvency Agreement thus avoiding the dreaded bankruptcy.

After a lot of hard work from the Debt Free team we finally entered into a Personal Insolvency Agreement which was tailored to suit our situation allowing us to make one monthly payment to our creditors which we can afford and still have enough left to pay the mortgage and other bills and more importantly start living life again. We no longer have the constant stress and we get to keep our house.

I highly recommend Debt Free to anyone experiencing debt related problems. The staff is caring, professional, understanding and more importantly have the knowledge and skills to get you out of the cycle of debt. Debt Free will always keep you informed and provide you with accurate information. When they battle for you a win-win outcome is the only solution giving you complete confidence in their ability.

So instead of wondering what can be done just Debt Free it.

A&K

If you are struggling with credit card debt or personal loan debt and have been refused a debt consolidation loan, you may wish to consider an alternative debt relief solution which may help you avoid formal bankruptcy. Call today to see if you qualify on 1800 98 10 70.

Our friendly & professional personal advisors are trained to provide you with expert advice on bankruptcy and other credit card debt relief solutions. We have a proven track record in the field of personal insolvency. Our CEO is a Chartered Accountant and Registered  Trustee in Bankruptcy so rest assured you will receive the best possible personal insolvency advice to help solve your financial problems.

What kind of debt problems do we help solve?

• excessive credit card debt; or
• excessive personal loan debt

Getting out of debt

Getting out of debt needs to be carefully and professionally managed.  Debt Free has been assisting Australians for many years with debt relief solutions tailored to help people get out of debt

Consolidating debt

Consolidating debt can be achieved in many different ways such as:

• obtaining a debt consolidation loan
• entering into a debt relief solution by agreement with your creditors

Our affordable and flexible debt relief solutions are tailored to your individual needs by:

• Reducing your stress by stopping threatening creditor calls and mail
• Saving you from being forced into formal bankruptcy?

Call today to see if you are eligible for our Debt Relief Solutions. Our toll free line is open 5 days a week on 1800 98 10 70

Brief overview of our services

We offer FREE  initial advice without obligation Call Us Now on 1800 98 10 70.

What are our alternative solutions if you have been refused a loan?

If you have been refused a consolidation loan due to a poor credit history or the financial institution does not believe you can service the loan and you cannot meet your other financial commitments (ie you are struggling with unmanageable levels of debt), you may wish to consider some other debt relief solutions:

• Debt Agreement
• Personal Insolvency Agreement
• Bankruptcy

What is Debt Consolidation?

Debt Consolidation is a financial product (usually a personal loan) whereby you roll old debts into a fresh loan, ie you combine many different debts into a single loan.

What are the benefits of a obtaining a loan to consolidate debt?

• One single loan repayment per month rather than many individual repayments
• Secure a lower rate of interest
• Shorten the total repayment period

Consolidating debts

• Credit cards
• Store cards
• Other personal loans

Who offers debt consolidation loans?

Typically these types of  loans are offered from major financial institution like the big 4 banks in Australia.  We also recommend that you shop around for the lowest interest rate and account keeping fees.  Remember to ask about the account keeping fees and the loan establishment fee as these can greatly affect the effective rate of interest. Not all financial institutions will offer these type of loans on an unsecured bases ( ie without security), so you may be asked to put up an asset as collateral (like a house or a car).

Will I qualify for a loan?

It is unlikely you would qualify for a loan if any of the following factors are present;

• You have a bad credit record; or
• You have been bankrupt in the last 10 years; or
• You are in default with other loan repayments
• You do not have regular employment.

If you have been refused a debt consolidation loan, you may wish to consider our debt solution services. Remember our advice is free and without obligation, so call us today toll free on 1800 98 10 70, you have nothing to lose!

• Assist with completing bankruptcy forms from $396
• Act as your Bankruptcy Trustee from $75 per week (subject to statutory charges & recoveries)

Call Us Today to discuss your personal bankruptcy needs on 1800 98 10 70.

Bankruptcy can provide significant relief to people with:

• unmanageable levels of debt;
• assets valued at less than the statutory thresholds; and
• income less than the statutory thresholds.

Our consultants can provide expert advice and advise you on your best available options to enjoy immediate relief from debt.

Declaring yourself bankrupt could be a life changing decision and accordingly we strongly recommend that you invest 10 minutes to read this web site. If you are uncertain about any aspect you can call us for free initial advice on 1800 98 10 70. All bankruptcy information and advice will be provided free of charge during your initial phone call.

1. Bankruptcy alternatives

If you wish to explore alternative bankruptcy options please review the pages below. We offer a financial assessment for $99 and that assessment will explore if you are eligible for any alternative solution . Our unique debt assessment will advise you of your best option and we will also explore if you can avoid bankruptcy, which may involve:

• a Debt Agreement or
• a Personal Insolvency Agreement

2. What is Bankruptcy?

Bankruptcy is a legal process for individuals who cannot pay their debts as they fall due. If you are unable to avoid bankruptcy, it will last for 3 years (if you fail to truthfully disclose your financial position and to fully co-operate with your Trustee in the form of a Statement of Affairs). At the end of your bankruptcy you will be released from the debts which you had incurred before you entered into Bankruptcy. You will not be released from debts which you may incur after you have been made bankrupt and some debts such as fines and child support survive your Bankruptcy (in other words you will not be released from these debts).

A Trustee will be appointed to handle and oversee the process. Your Trustee will sell all of your assets except for the following assets which are protected:

• Most ordinary but not luxury household and personal goods
• Motor Vehicle (worth < $7,050)*
• Tools of Trade (worth< $3,500)*
• Superannuation (subject to limits)

*amount current as at September 2011

Whilst you are a bankrupt, you may be subject to the following obligations/restrictions:

Your Bankruptcy term may be extended for up to eight years (if you fail to fully co-operate with your Trustee).

Bankruptcy should be looked upon as a last resort. Call Debt Free today to see if our highly qualified team can help you avoid bankruptcy with a more beneficial financial solution. The initial phone consultation is free but the results can be life changing!

3. Will I be liable for compulsory income contributions?

If you are made bankrupt you may be liable to make compulsory income contributions for the duration of your Bankruptcy (3 to 8 years).

Use our income contribution calculator to see if you will be liable for statutory income contributions.

Income Contribution Calculator

4. How long will my Bankruptcy last?

Usually you will be bankrupt for 3 years (assuming you have filed your Statement of Affairs). However, the period that you are bankrupt could be extended up to 5 years or in some extreme cases up to 8 years.

• Learn how the period you are bankrupt can be extended for up to 5 years;
• Learn how the period you are bankrupt can be extended for up to 8 years;

If you fail to lodge your Statement of Affairs with your Trustee you can be bankrupt indefinitely.

5. Can I end my Bankruptcy early?

Normally bankruptcy lasts for 3 years (assuming you fully co-operate with your Trustee and have fully disclosed your circumstances in your Statement of Affairs). If you wish to bring your bankruptcy to an end earlier you can put forward a proposal to your creditors. Any early termination proposal would need to put your creditors in a better position than they would be if your bankruptcy continued (in other words they will receive a higher dividend under your early termination proposal than if your bankruptcy ran its complete course).

6. Can I declare myself Bankrupt?

Yes but before you decide to declare yourself  bankrupt, you should first call us on our Toll Free phone line to see if you can avoid bankruptcy. If it is your only viable option we recommend that you first visit a financial counsellor. A list of counselling services available are listed on the Insolvency and Trustee Service Australia website.

7. How do I declare myself Bankrupt?

To become bankrupt will need to complete the necessary forms. These forms can be obtained from ITSA free of charge so you should never be charged to obtain them. Click here to download the forms. If you need help completing the forms, then we are happy to help by providing a personal service and help you complete the forms from as little as 4 payments of $99 each.

8. Can I appoint a Private Trustee of my choice?

Yes you can appoint a Private Trustee of your choice. Typically a Registered Trustee (in private practice) will charge a fee to act as the Trustee. Debt Free has a Registered Trustee who can offer this service subject to terms and conditions. Call us to discuss your circumstances so we can provide you with a cost estimate for this service.

9. Bankruptcy Forms

If you would like to download the bankruptcy forms FREE of charge. If you require help completing these forms we can provide that service from as little as 4 payments of $99 each or a single payment of $396.

As part of our service we will help you complete the forms and undertake a financial assessment to ensure that bankruptcy is your best option.  We will also provide a bankruptcy kit which explains bankruptcy in more detail and also details your obligations as a bankrupt so you do not fall into the bankruptcy trap and have your bankruptcy extended up to 5 or 8 years.