Simple & Easy

Flexible Debt Arrangements

Manage your debts, work within your budget and have the freedom to get back on with your more harassing calls, no more juggling payments.

Informal debt arrangement

Informal Debt Arrangements

Just Budget Debt Support Benefits

How do informal Debt Arrangements work?

Don't go into A Part IX Debt Agreement Until You Read This

Flexible, low-risk Strategy To Pay Off Debt

If you’re struggling to repay your debts on time or experiencing financial hardship, then informal debt arrangements are a form of debt relief that could be a great fit for you. It could help you to get back on your feet so you can repay your debts and get back on with your life.

Unlike a Part IX Debt Agreement, there are no minimum or maximum levels of debt to qualify. In addition, there are no time limits you need to worry about. Your informal payment arrangement could last as briefly or as long as needed, assuming your creditors are agreeable.

An informal payment arrangement can be used with a range of debts like secured debts (car loans, mortgages, etc.) as well as unsecured debt (credit cards, personal loans, and government debts).

alternative to part 9 debt agreement
Part 9 debt agreements

Is An Informal Debt Arrangement Right For You?

Are you a good fit for this type of arrangement? You still pay off you debt at a rate you can afford, but we make it a lot easier.

Ask yourself:

settle Your Debts At A Pace That Suits You

An informal debt arrangement can freeze the interest on your debts and stop creditors from calling. Your informal payment arrangement doesn’t go on record or negatively affect your credit file. It’s a positive way to settle debt with your creditors, ensuring that everyone is happy with the final outcome.

In addition, an informal payment arrangement gives you the time and freedom to settle your debts at a reasonable pace – often at a reduced final amount.

Caring debt support for Australians

What Our Clients Say

The Informal Debt Arrangement Process

The process of entering an informal debt arrangement is simple:

Budget Planner

Work out your budget in detail to determine your income vs your expenditure. This helps highlights your ability to pay your creditors.

Debt arrangement proposal

We will work alongside you to write out your personally tailored informal debt arrangement proposal, detailing what you can afford to pay.

Debt Negotiation

We negotiate with creditors on your behalf to find terms that you both agree upon. We are specialists in liaising with creditors, be confident you in safe hands.

Stress-Free Future

If your creditors accept the proposal then you can expect a stress-free process with your current debts reduced or frozen to a point that is manageable.

Benefits of Informal Debt Arrangements

Caring debt support for Australians

Debt management means you aren’t alone. We will manage your debts for you through personal budgeting and a careful debt management plan (DMP). You don’t have to juggle repayments.

An informal debt arrangement  is designed to help people, just like you, to reduce and get rid of, existing and future debts. 

 Just Budget works with you to manage debts with no obligation, expertly tailoring a budget and debt repayment plan to suit your life. We aim to take off the pressure of your current debt stress, so you can get back on with living.

Informal Arrangements Vs Part IX Debt Agreements

Informal Debt agreement

  • Interest can be frozen or total outstanding debt can be reduced.​
  • We can help negotiate your current credit terms​
  • Won't impact your credit rating as much as a Part IX Debt Agreement​
  • We manage your multiple debt repayments
  • You won't have to deal with creditor letters or phone calls
  • Informal debt arrangements do not appear on the public register and are less likely to appear on your credit file
  • You are not required to declare your assets
  • Your debts will still need to be repaid and terms of agreement adhered to
  • You are required to stick to your budget under the terms of the arrangement

Part IX Debt Agreements

  • Interest and charges on your unsecured debts are frozen
  • Your creditors will not be able to pursue any further court action, given you keep to the arrangement terms
  • A debt agreement is a formal way of settling most debts without going bankrupt
  • The agreement binds most unsecured creditors
  • You won't have to deal with creditor letters or phone calls
  • Your name is on the National Personal Insolvency Index for five years or more.
  • There are income, asset and debt thresholds.
  • If your creditors don't accept your proposal, any one creditor can use your proposal in court to make you bankrupt
  • You are required to stick to your budget under the terms of the arrangement