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RDA negotiate with your creditors
to reduce all of your debts
into one simple monthly payment
RDA is a Govt.
Registered Debt Agreement Administrator
Australian Financial
Security Authority
License #1159
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RDA CreditFIX Debt Solutions
- What are the options? |
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1. Informal
Arrangement
A good option for those with manageable
debt levels, with short term income and
debt issues.
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Re-negotiation with creditors
can result in: |
More time to pay |
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Freezing interest |
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Lower repayments |
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One smaller payment, to settle
your entire debt |
RDA CreditFIX can talk to you about your
options and speak to your creditors on
your behalf - as well as help with
budgeting advice. Complete the
quick online reply
form today to see if an informal
agreement is the best option for you.
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2. Debt
Agreement (Part IX)
A debt agreement is a legally binding
arrangement between you and your
creditors, where creditors can agree to
freeze debts, accept reduced debt
amounts, with re-payments paid at a rate that
you can afford.
| You may
propose a debt agreement if: |
Insolvent (unable to pay
your debts as they fall due) |
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Unsecured debts of less than
$103,121.20 |
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Income of less than
$77,340.90 (after tax) |
The majority (in value) of your
creditors must accept the proposed debt
agreement for it to become binding.
RDA can prepare and manage your debt
agreement. We negotiate with your
creditors on your behalf to reduce your
level of debt and design a simple
monthly payment plan that you can
afford. Complete the
quick online reply
form today to see if a debt
agreement is the best option for you.
Further detail of the debt agreement
process can be found at the Insolvency
and Trustee Service Australia website [here]
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3. Personal Insolvency Agreement
(Part X)
A personal insolvency
agreement is very similar to a debt
agreement (part IX), except there are no
debt, asset or income limits to be
eligible to propose a personal
insolvency agreement.
RDA
CreditFIX work closely with you to
prepare reports and a proposal for your
creditors. Should your creditors accept
the proposal, a trustee will administer
the agreement. Complete the
quick online reply
form today to see if a personal
insolvency agreement is the best option
for you.
Further detail of the personal
insolvency agreement process can be
found at the Insolvency and Trustee
Service Australia website [here]
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4. Debt
Consolidation
Debt
Consolidation is a single personal loan
to replace multiple debts - loans,
credit cards, etc.
The advantage of debt consolidation is a
single monthly payment with fixed
repayments. Consideration should
be given the the personal loan rate of
interest to ascertain the true financial
benefit of debt consolidation.
RDA are very experienced in determining
which solution would best suit your
individual circumstances, and have
direct contact with a range of lending
intuitions.
Complete the quick
online reply form today to see if
debt consolidation is the best option
for you.
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5. Mortgage Re-finance
Mortgage
re-financing is debt consolidation using
your property equity to replace multiple
debts - loans, credit cards, etc.
The advantage of consolidation through
mortgage re-financing is the low rate of
interest.
Complete the quick
online reply form today to see if
mortgage re-financing is the best option
for you, and choose from a range of
lending options.
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6.
Voluntary Bankruptcy
RDA CreditFIX consider this the last
resort in solving your financial
troubles. Even though the official
register only keeps the record of your
bankruptcy for a few years - the
knowledge of being a bankrupt stays with
you forever.
RDA advise you of all of your options,
and do everything
possible to help you avoid bankruptcy.
Where you are unable to come to an
arrangement with your creditors, you can
consider petitioning for bankruptcy.
Upon becoming bankrupt, your trustee will
sell those assets that you are not
allowed to keep, to repay your creditors
to the extent possible.
While you are a bankrupt,
should you earn an after-tax income
above a defined threshold you will be
required to pay half of the excess
amount to your trustee for payment to
creditors. You will be bankrupt for a
minimum of three years. This period can
be extended by the trustee under certain
circumstances. After that period you are
discharged from most of your debts.
Complete the
quick online reply
form today to see if voluntary
bankruptcy is the best option for you.
Further
detail of the voluntary bankruptcy
process can be found at the Insolvency
and Trustee Service Australia website
[here]
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