Listen Up….

Please DO NOT Enter A PART 9 Debt Agreement

Why not?

  • You will be entering a an act of bankruptcy and if the debt agreement is not accepted by your creditors, they can use your proposal to apply to the court to make you bankrupt

  • Your name and details will be listed on the National Personal Insolvency Index (NPII) for all to see

  • Your debt agreement will be listed on your credit report for up to 5 years

  • It may prevent you from practising certain professions or being employed in certain positions of trust.

  • You will find it very difficult if not impossible to get any form of credit over the next 5 years

So how can we help?

Using Our Informal Debt Repayment Program

Let’s Get You Debt Free

We specialise in debt negotiation with your home loan lender, credit card provider, personal loans, power and electricity bills, school fees, creditors debts, court judgements, basically any debt

  • We can negotiate with your current lenders or creditors to lower your repayments

  • We can attempt to freeze interest on your credit cards and loans for a period of time

  • We can refinance your home loan & consolidate debts

  • We can make an offer to your creditors to pay out your debts at a reduced amount (debt settlement)

  • We can put you under hardship with your creditors and lenders (Informal Debt Agreement) reducing your monthly repayments

  • We can negotiate with your creditors, lenders and debt collectors on your behalf, so no more nasty calls or letters

Client Example

Mr and Mrs Taylor had the following loans and credit cards and were struggling to keep up with payments.

Mrs Taylor went from fulltime to part time income due to the new addition (baby) Rose

Current Repayments (minimum)

  • ANZ CC $5000 @ $100 mth

  • CBA CC $25,000 @ $500 mth

  • CBA PL $45,000 @ $428 mth

  • Citibank CC $28,000 @ $560 mth

  • NAB CC $40,000 @ $800 mth

Total Repayments $2388 month

The credit cards were all maxed out so the repayments were only paying back the interest. It would take them 15+ year to pay the debt back

We completed the client’s assets and liabilities, worked out their real expenses, income and a figure they could afford to pay, without hardship

We then presented the figures to each creditor and arranged for the following:

  • Lower repayments for 6 months

  • Freeze interest for same period

The new agreed repayments:

  • $1690 month (after our fee)

  • Savings of $698 per month

After the 6 months, we reapproached the creditors, and they agreed to put the entire debt into a repayment plan over 7 years with no interest

This was an informal agreement, not a part 9 debt agreement

Just as importantly, no adverse remarks listed on their credit file at all

Finally the debts are going to be repaid in full, and Mr and Mrs Taylor can breathe again, without stress




Latest Reviews

It was all explained upfront, we have several debts and credit cards that were negotiated to a lower monthly repayment, makes it easier to pay the bills and loans again.

N and K Barrett

Well done you really helped us Matt and we now have just one repayment on our debts, I can breathe again.

H and S Cartwright

Saved our butts and dealt with the banks for us, truly worth it.

B Halliday

With over $150,000 in credit card debt we were in real trouble, but 1800badcredit talked to our lenders and we are now on a plan we can afford to pay.

E King & O Forrest

Did what they said they would and negotiated our debts down by 40% which was just amazing, thank you so much.

C & C Winter

To be able to repay less on our debts has made it a lot easier and the lenders have stopped calling us all the time, which is good

K Spratt

The debts were mounting for us, about $120,000 in credit cards and personal loans, cars loans and bills, 1800badcredit reduced it to $50,000 and luckily we had equity in our house so paid all the debts out, saved us heaps, thank you Matt and Peter who both helped us with negotiating the debts down, which worked out well and the refinance was done relatively quick.

We were a bit sceptical about how it all worked but not any more, it’s better than alternatives like bankruptcy and our credit file is fine

H and A Miller

We pay $990 month now instead of over $2000 which we couldn’t pay.

Also had a court action by CBA stopped which was fantastic.

Highly do recommend to get help when you need it form this professional group.

Cynthia O