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Sort My Debt - its not too late to become debt free

Just imagine the relief once you’ve taken the first step toward being debt free, that fresh start and the peace of mind that you will feel, not to mention the confidence you’ll feel at the start of taking back your life and being in control of your money.

Tell them about your debts

What kind of debt are you in and how much do you owe, talk to them so that they can assist you in choosing a debt solution that is best suited to your requirements.

Sort My Debt will guide you through the process and they will inform you of the options you have the advantages as well as the disadvantages, review debt consolidation and recommend which option is best. They will explore your options and come up with a solution as to which option is best for you.

• Credit cards - They can assist you by freezing or eliminating your credit cards.
• Personal loans - They can assist in lowering your monthly payments and reducing your interest.
• Utilities - They can assist by keeping the power on your phones connected even when you are falling behind in payment.
• Mortgage - Are you worried about losing your home? Perhaps there is a way to reduce your payments without you needing to sell your home.
• Past due payments - They can assist in making your payments affordable again by reducing your penalties and lowering your interest rates.
• Tax debt - Are you still indebted to the Australian Tax Office? Let Sort My Debt help you to pay them back.

Informal arrangements

Bankruptcy and formal debt agreements do offer quite a few benefits, but on the other hand, they do have their disadvantages such as public records which affect your credit rating or job opportunity if you are thinking about some job hunting.

At times your financial difficulties are only short-term, so limiting your income or jeopardising the loss of your assets is not such a good idea. If you are able to re-negotiate your repayment schedule and have your interest frozen for a short time, you should be in a position to get things back on track financially.

In situations like this, Informal Arrangement is a debt relief option that will offer you many of the benefits of a Formal Arrangement without the public records or financial restrictions

In cases like these, Informal Arrangements are a debt relief option that offers many of the benefits of formal options without the same public records or financial restrictions.

Formal debt agreements

A bankruptcy alternative is a Formal Debt Agreement that allows you to settle your debts by making a flexible and affordable payment over an agreed period of time.

Similar to Bankruptcy, Formal Debt Agreements are not long or short-term loans, but merely an arrangement made between you and your creditors so that you can comfortably pay off your debts, and just as in Bankruptcy it can assist you in being debt free without needing to pay back the entire amount owed.

Should you qualify for a Formal Debt Agreement, it offers a much more flexible alternative that won’t remain on your credit report forever plus you won’t need to sell your assets.

Filing for bankruptcy

When the collection calls are coming in because your bills are piling up and you feel there is no way out because you are unable to keep up with payments while you are still trying to cover your daily living expenses, filing for Bankruptcy could off you a fresh start.

The minute you file for bankruptcy, you give up all control of your finances and assets for a certain period of time. This is a legal process that can be declared once you are insolvent, and this means you are no longer able to pay your debts when they are due.

Bankruptcy protects you from legal action from your creditors because you have new arrangements in place that gives you the affordability to settle your debts.