Do you have $50,000 or more in debt, including your home loan, and want to find out more about informal arrangements?

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All information will be treated confidentially and will not be shared with anyone. This analysis will not impact your credit score. The initial phone consultation is provided free of charge. Our solutions may not be appropriate or available to all consumers.

Informal Arrangements

There are times when your financial problems may be a short-term problem only. If so negotiating an informal arrangement with your creditors may be the best solution for you.

Once creditors are contacted and are informed of your financial position, many, when aware of genuine financial difficulties, will assist you by giving you more time to pay, agreeing to re-negotiate the loan amount, settling for a lesser sum or freezing the interest for a period of time.

An informal arrangement is not always easy. Not all creditors may agree to your offer and it is not binding on all creditors. For example, whilst the majority of creditors may agree to a revised payment schedule, one or more creditors may reject your offer and continue to take action against you. This will jeopardise the entire informal arrangement.

Needless to say, the more creditors involved, the less likely an informal arrangement will be successful.

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.

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