Free Debt Assistance Quick, Confidential and No Obligation.

Enquire Online Now OR Request a Callback

Informal Arrangement Case Study

Sharon was a single mother with two children. She worked full time. Sharon had a personal loan for $10,500 and a credit card with an outstanding balance of $15,500. Sharon had a history of always paying the minimum monthly payment on her personal loan and credit card each month by its due date.

Due to a restructure at work, Sharon was no longer able to work overtime.

The Problem

Due to the loss of overtime job Sharon was finding it increasingly difficult to pay the minimum monthly payment on both her personal loan and credit card. She was falling behind with her repayments.

The Solution

Sharon approached Fox Symes for assistance. Fox Symes contacted both of her creditors and explained her position. Fox Symes negotiated a workable solution for Sharon.

With the assistance of Fox Symes the banks (her creditors) agreed to provide Sharon with a 3-month moratorium. That meant that for an agreed 3 month period Sharon was not required to make any monthly repayments towards her personal loan and credit card. This 3 month moratorium provided Sharon with enough time to find a part time job.

Sharon found a part time job and recommenced her minimum monthly repayments to the banks. She had avoided falling further into arrears and possibly having her credit rating affected. What Sharon learnt was, once creditors are contacted and are informed of your financial position, many, when aware of genuine financial difficulties, will assist.

More information on Informal Arrangements

Fox Symes can assist you negotiate an informal arrangement. We have excellent working relationships with all institutional creditors. We are able to assist you in preparing a proposal to your creditors and will then liaise on your behalf with your creditors.

Fox Symes is the largest provider of debt solutions to individuals and businesses in Australia. Fox Symes helps over 100,000 Australians each year resolve their debt and take financial control.

If you are in debt and want to know more about the solutions available to you contact us on 1300 098 127 or fill out the short contact form.

Enquire Now – Just 4 questions to answer

  1. 1 Do you have a home loan? We can still assist even if you do not have a home loan.
  2. 2 Do you have unsecured debts of $7,000 or greater? Credit cards, store cards and personal loans are types of unsecured debts. Mortgages and car loans are not.
  3. 3 Do you receive a regular income?
  4. 4 Have you been bankrupt in the last 13 years?
Next

Yes! We can help you

Option 1: Call us now

Free Call 24 hours, 7 days a week

1300 098 127

Fox Symes is the largest provider of debt solutions to individuals and businesses in Australia. We help over 100,000 Australians each year resolve their debt and take financial control.

Option 2: We call you

Unfortunately, we are unable to assist you.

For further assistance we recommend you:

  • Speak to your Creditors
  • Call AFSA on 1300 364 795
  • Speak with a Financial Counsellor
< Go Back

Unfortunately, we are unable to assist you at this time.

Please contact us for assistance once you have secured a regular income.

We look forward to your call.

< Go Back

Unfortunately, we are unable to assist you.

You need to have over $7,000 in unsecured debt to apply.
For further assistance we recommend you:

  • Speak to your Creditors
  • Call AFSA on 1300 364 795
  • Speak with a Financial Counsellor
< Go Back

FREE Phone Consultation

Australian residents only.

  1. Credit cards, store cards and personal loans are types of unsecured debts. Mortgages and car loans are not.
Enquire Online Call Now

Take control
of your debt today

Call Now 1300 784 182

Or We'll Call You

No thanks, my debt situation is not urgent.

FREE Phone Consultation

Australian residents only

FREE Phone Consultation

Australian residents only.

  1. Credit cards, store cards and personal loans are types of unsecured debts. Mortgages and car loans are not.