--- title: Escape Bad Debt with Debt Agreements in Brisbane description: Debt Agreements in Brisbane are one of the most successful ways to get out of debt and avoid bankruptcy. It is  not a loan, nor is it a way to consolidate your debts. A Debt Agreement is a binding contract between you and your creditors outlining a new payment arrangement. image: https://lanyana.revivefinancial.com.au/hubfs/Escape-bad-debt-with-debt-agreement-in-brisbane.jpg --- [![DR-Logo---Powered-by-RF-(2021)-137x60px](https://lanyana.revivefinancial.com.au/hubfs/DR-Logo---Powered-by-RF-(2021)-137x60px.png)](https://debtrescue.com.au) Menu [Apply Online](https://solutions.debtrescue.com.au/online-assessment-form) [1800 003 328](tel:+611800003328) 1800 003 328 - [Recent Articles](https://solutions.debtrescue.com.au/articles) - [Debt Consolidation](https://solutions.debtrescue.com.au/articles/tag/debt-consolidation) - [Debt Agreements](https://solutions.debtrescue.com.au/articles/tag/debt-agreements) - [Informal Agreements](https://solutions.debtrescue.com.au/articles/tag/informal-agreement) - [Debt Relief](https://solutions.debtrescue.com.au/articles/tag/debt-relief) - [Bankruptcy](https://solutions.debtrescue.com.au/articles/tag/bankruptcy) - [Budgeting](https://solutions.debtrescue.com.au/articles/tag/budgeting) - [Business Debt](https://solutions.debtrescue.com.au/articles/tag/business-debt) - [Credit File](https://solutions.debtrescue.com.au/articles/tag/credit-file) - [Education](https://solutions.debtrescue.com.au/articles/tag/education) - [News](https://solutions.debtrescue.com.au/articles/tag/news) - [Research](https://solutions.debtrescue.com.au/articles/tag/research) - [1800 003 328](tel:+611800003328) Talk to a Professional Apply Online [1800 003 328](tel:+611800003328) Call Now # Escape Bad Debt with Debt Agreements in Brisbane Posted by [Debt Rescue](https://lanyana.revivefinancial.com.au/articles/author/debt-rescue) on Mar 28, 2013 6:21:00 AM - [Tweet](https://twitter.com/share) [![Escape-bad-debt-with-debt-agreement-in-brisbane](https://lanyana.revivefinancial.com.au/hubfs/Escape-bad-debt-with-debt-agreement-in-brisbane.jpg)](https://lanyana.revivefinancial.com.au/articles/escape-bad-debt-with-debt-agreements-in-brisbane) Debt Agreements in Brisbane are one of the most successful ways to [get out of debt](https://lanyana.revivefinancial.com.au/articles/how-a-debt-agreement-can-rescue-your-finances) and avoid bankruptcy. It is  not a loan, nor is it a way to consolidate your debts. A Debt Agreement is binding contract between you and your creditors outlining a new payment arrangement. The new payment arrangement will reflect a repayment schedule which is better suited to your current financial situation based on your income, expenses and debt. Debt Agreements in Brisbane are very common as they make your debts more affordable and save you thousands of dollars over the life of the agreement. However, Debt Agreements in Brisbane will have an impact on your credit file and for the course of the agreement you may find it difficult to secure any more finance. ## How Does a Debt Agreement Work? To enter into Debt Agreements in Brisbane, you must be insolvent. To be insolvent is to not have enough money, either in cash or assets, to be able to repay your debt. If your debt is beyond being able to fix through refinancing, consolidation or any other means of debt relief such as an [informal Debtstroyer Agreement](https://debtrescue.com.au/debtstroyer/), you should consider a Debt Agreement. The professional, experienced staff at Debt Rescue will get in touch with each of your creditors and negotiate a new repayment arrangement which is better suited to your current financial situation. Debt Agreements in Brisbane can reduce your debts a number of ways, depending on you, your financial situation and what you can afford. It is possible to: - Pause the interest and fees on your debt - Reduce your overall debt amount so you only need to pay a percentage of every dollar owed - A combination of the above. ![Is-Your-Business-In-Financial-Distress](https://lanyana.revivefinancial.com.au/hubfs/DR%20Blog%20CTA%20Banner%20-%20Debt%20Agreement.gif) ## Entering into Debt Agreements in Brisbane Once a Debt Agreement has been proposed by Debt Rescue, your creditors must vote to approve it. If your Debt Agreement is rejected the first time around, your Case Manager will go back to the creditors who voted against you and continue negotiations. Once your Debt Agreement has been approved all recovery action must cease, so all the harassing phone calls and letters will stop. You must make a regular repayment, usually a weekly repayment, to your creditors and you must continue with this payment until the Debt Agreement is complete. ## Debt Agreements in Brisbane and Your Credit File A Part 9 Debt Agreement was introduced to the bankruptcy act as an alternative to bankruptcy. They offer a way for someone to honor their creditors and avoid bankruptcy despite their financial hardship. As Part 9 Debt Agreements are part of the Bankruptcy Act, entering into one is still considered a form of bankruptcy and is noted on your credit file. A Debt Agreement doesn't have the harsh, restricting consequences of bankruptcy however having it noted on your credit file can still make it difficult to apply for credit both during and after the agreement. Debt Agreements in Brisbane are legislated under the Bankruptcy Act which is regulated by the Australian Financial Security Authority (AFSA) so your name will also be listed on the National Personal Insolvency Index which can be accessed for a fee. ## Debt Agreements in Brisbane Debt Agreements in Brisbane are incredibly common forms of debt relief. If you feel a Debt Agreement could benefit you and your personal situation call Debt Rescue. Our Case Managers will assess the best course of action for you and get you on the road to financial recovery. Cal us today on [1800 003 328](tel:1800%2000%203328). For more information on Debt Agreements and how they can help you find financial relief, check out our [Debt Agreement page.](https://debtrescue.com.au/debt-agreement/)  Topics: [Debt Agreements](https://lanyana.revivefinancial.com.au/articles/tag/debt-agreements) ## More Articles - Recent Articles - Debt Consolidation - Debt Agreements - Informal Agreements - Debt Relief - Bankruptcy - Budgeting - Business Debt - Credit File - Education - News - Research ### Subscribe Here! ### Get the Latest Debt Free and Budgeting Advice straight to Inbox Free ### Recent Posts ### If you are in too deep with debt, we here to rescue you. We have the right solution for your situation. Contact us today. No obligations, just solutions! ## Talk to an Aussie who cares. 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All of our Australian Credit Licenced activities within our Group are undertaken by our related bodies corporate Revive Financial Lending Pty Ltd ACN 152 573 610, Australian Credit Licence 418721 and Revive Financial Pty Ltd ACN 621 446 697, Australian Credit Licence 503321 and Revive Debt Agreements Pty Ltd CAN 133 509 654, Authorised Credit Representative Number 452856 and Registered Debt Agreement Administrator Number: 1337. Liability limited by a scheme approved under professional standards legislation. ## What Kind of Debts Do You Have? ![](https://debtrescue.com.au/wp-content/uploads/2020/11/Credit-card-icon.png) Credit/Store Card ![](https://debtrescue.com.au/wp-content/uploads/2020/11/Personal-loan-icon.png) Personal Loan ![](https://debtrescue.com.au/wp-content/uploads/2020/11/Pay-day-loan-icon.png) Pay Day Loan ![](https://debtrescue.com.au/wp-content/uploads/2020/11/tax-debt-icon-green.png) Tax Debt ![](https://debtrescue.com.au/wp-content/uploads/2020/11/Unitilties-Icon.png) Utility Bill ![](https://debtrescue.com.au/wp-content/uploads/2020/11/other-icon.png) Other Please select at least one type of unsecured debt. Next ## How Much Money Do You Owe? $10,000 $1,000 $100,000+ Next ## Find Out How To Reduce Your Debt ### Your First Name ### Your Last Name ### Your Email ### Your Phone Phone number must be 10-digits long and begin with a 0. (e.g. 04 1234 5678) ### Your Post Code Post code must be 4-digits long (e.g. 4567) Some of your details appear incorrect. Please update the highlighted fields and re-submit. Submit ## Congratulations! ### You've taken the first step to becoming debt free Let's keep the momentum going and complete our assessment form to receive an instant debt analysis. [Start Instant Assessment](https://solutions.debtrescue.com.au/online-assessment-form) By submitting this form you acknowledge that you have read and accept our [Privacy Policy](https://lanyana.com.au/privacy-policy/)