Benefit From an Informal Debt Arrangement

Save Money & Become Debt-Free

Informal debt arrangements are our specialty. We’ve improved thousands of lives with our proven debt solutions. Reduce your debt and stress levels with the help of Just Budget today.

Get your debts under control today

Informal debt arrangements are our specialty. We’ve improved thousands of lives with our proven debt solutions. Reduce your debt and stress levels with the help of Just Budget today.

How does an informal debt arrangement work?

Your debts are combined & reduced

An informal debt arrangement involves combining your debts into one easy to manage plan at a frequency and payment amount you can afford.

You are protected

You’ll only pay us, and your creditors will stop contacting you. Plus, a dedicated case manager will look after you every step of the way.

You'll be on track to being debt-free

By the end of your plan, your finances will be under control, you'll likely have saved money overall, and could walk away with an improved credit score.

What is an informal debt arrangement?

An informal debt arrangement is a flexible alternative to formal insolvency options like Part IX agreements or bankruptcy. It is a private agreement that does not show up on your credit file, giving you that extra peace of mind.

We assess your income and expenses, then negotiate a new payment plan with your creditors based on what’s affordable. This simplifies your payments by reducing & combining all debts into one easy monthly payment.

At Just Budget, we handle everything—from negotiating with creditors to managing payments. All you need to do is make timely payments, and we’ll take care of the rest. We could:

Check out what our clients say

Benefit From...

More money in your pocket

Your debts will be combined into one affordable payment, leaving you with more money for you.

Frozen Interest rates

Interest rates & fees can be frozen. This means you'll likely save money by the end of your plan.

Protection from creditors icon

Protection from creditors

We will act on your behalf and your creditors will be instructed to stop contacting you

Dedicated support

An expert will be assigned so you always feel supported and never feel alone or confused.

Is this debt solution right for me?

If any of the following statements are true, then an informal debt arrangement will likely be a perfect fit for you.

Watch how it works

With over 30 years of financial expertise, Just Budget has the tools to help you become debt-free. Find out how an Informal Debt Arrangement works:

The 6 step process

We'll go through your budget together

During our initial conversation, we'll figure out how much you can comfortably afford to pay towards your debts on your new plan.

Jump on board

Read and sign our application pack to give us the green light to get moving with your Informal Debt Arrangement.

We will begin negotiations

Your creditors will be contacted one-by-one to be informed of the new payment arrangement and to stop contacting and debiting you.

Just Budget will act on your behalf

Simply make payments to us on time and we'll do the rest. It really is that easy!

Feel safe and confident

Feel stress-free knowing your debt is under control and that you have around the clock support from our team.

100% debt-free future!

By the end of the Informal Debt Arrangement, your debts will be a thing of the past!

Common Questions

To qualify for an informal debt arrangement, you must demonstrate financial difficulty and a willingness to repay your debts.

The fastest way to know if you qualify is to apply online. It takes less than 5 minutes and we’ll aim to be in touch with an answer within 24 hours.

An informal debt arrangement is a private agreement with creditors that offers flexibility and doesn’t affect your credit file, whereas a formal debt agreement is legally binding and recorded on your credit history.

Informal Debt Arrangement:

  • Private and flexible agreement with creditors.
  • No formal legal process or involvement of AFSA.
  • Does not impact your credit file or public record.
  • Tailored repayment terms, which can be renegotiated if circumstances change.
  • Typically faster to arrange and less costly than formal agreements.

Part IX Debt Agreement:

  • Formal, legally binding agreement under the Bankruptcy Act.
  • Administered through AFSA and recorded on your credit file for up to 5 years.
  • Acts as an alternative to bankruptcy but has stricter eligibility criteria.
  • Fixed repayment terms that require a formal process to change.
  • Involves fees for administration and processing.
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If your circumstances change, the terms of your informal debt arrangement can be renegotiated to better suit your new financial situation.

If your circumstances change for the better and you have excess money to pay off your debts in part or full, then we could initiate a debt waiver. This usually involves settling your remaining debts for a fraction of the total amount.

If your circumstances change for the worse and you can’t afford your new repayments, then we can look at your situation again and work to adjust accordingly.

The important thing to remember is that it’s crucial to always communicate any change in circumstance immediately.

Get your debts under contol today

If you qualify, your Informal Debt Arrangement could be finalised within 24 hours, and you could start enjoying the benefits immediately.

Informal Debt Arrangement with Just Budget