We can negotiate privately with your creditors to reach a new, legally binding, affordable repayment arrangement for your debt.
Repayment Arrangement Features
Private Negotiation with your creditors won’t have a direct impact on your credit file, making repayment arrangements a great solutions for people who are only just struggling with their finances.
If, for whatever reason, we are not able to assist you with a new home loan, we won’t leave you out in the cold. We will negotiate with your creditors to make your debts more manageable through an informal arrangement.
An Informal Payment Arrangement has a number of benefits. Because the negotiations are made privately with your creditors, the informal arrangement isn’t marked on your credit file and makes it the perfect solution for someone who needs to address their debt, but isn’t able to refinance just now.
Positive Solutions Finance will tailor an informal repayment arrangement around your unique circumstance so whether the agreement lasts for a number of months or spans a number of years, we can help.
An Informal Payment Arrangement allows you to renegotiate the conditions of your debt repayments, making them more affordable for you, while still honouring your creditors.
A Positive Solutions Finance debt negotiator will determine a weekly budget for your living expenses to see how much is left over after all your essential payments are covered. Once they know a figure, they will negotiate with your creditors to reduce your debt amount to what you can afford.
Creditors are often happy to accept an agreement where they only receive a fraction of each dollar owed as it means they can still recover a portion of their funds.
The new repayment terms are legally binding so your creditors must stop their collection action and honour the new arrangement.