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Financial Hardship Repayment Arrangements

  • Reduce your unsecured debts
  • Protect your credit file
  • Stop creditor harassment

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.

Affordable Payments

We can negotiate with your creditors to reduce your debt amount to a repayment amount you can afford. Often, you only pay a fraction of each dollar you owe.

Private Negotiation

We negotiate with your creditors privately to reach a legally binding agreement. These negotiations are not part of a formal agreement which means they won’t be noted on your credit file.

Breathing Room

During the negotiations, your creditors must speak to our team of debt negotiators and cease all recovery action so the harassing phone calls and emails will end.

Why use an Informal Payment Arrangement?

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.

How does it work?

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.

Our Process

We combine consolidation and debt negotiation with specialised lending products to help you improve your finances and get on with life!

Assessment and Application

We will assess your financial situation, make a recommendation on consolidating your debts and prepare your loan application.

Processing and Negotiation

We will process your loan for conditional approval and negotiate with your creditors to reduce the debt you owe, improving your borrowing capacity.

Approval and Settlement

Once our negotiations are complete and your loan is finalised, we will settle all your debts and you will be stress-free to get on with your life.

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