A Basic Example
The following is a basic example of someone in debt who cant pay and wants to do a debt agreement.
Alex works and earns $755.00 after tax per week.
Alex pays rent of $250.00 per week and has living expenses (food, electricity, petrol, medical etc) of $350.00 per week.
That means Alex has $155.00 as uncommitted income after all living expenses are taken into account.
Alex
has 4 credit cards and owes $38,000.00 all together. Alex is also 2
payments behind on each card and is constantly getting phone calls and
nasty letters.
Alex could offer to pay $130.00 per week for 5 years (total $35,031.00 includes all fee's) as an offer by way of a Debt Agreement proposal.
If the creditors accept this offer Alex now only has to make that one simple payment and after 5 years will be debt free.
NOTE:
This is an example. Your situation will be different. If you contact us
we can work out what you may be able to afford and also advise you on
what sort of offer your creditors would be likely to accept.
NSW 02 9623 7860
QLD 07 3613 9648
VIC 03 9993 0116
Friendly help guaranteed, call Tony.
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