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WHAT ARE THE FEES AND CHARGES
We do not charge any fee's for providing advice on the suitability of a Debt Agreement to your circumstances.
We do not charge any fee's for helping you work out what you can offer by way of a Debt Agreement.
There is a set-up fee involved and this is usually your first 8 weeks payments. Your payment is based on what you can afford, not on what you owe.
Administrators also charge a fee for receiving and distributing the
money, (this comes out of the payment, it is not an extra payment). This can only be taken as a percentage of each payment made by the
debtor.
Funds collected by an administrator are subject to a
government levy (the realisations charge) which is paid by the
administrator directly to the government, (this comes out of the payment, it is not an extra payment).
Any interest earned on funds
collected by a registered debt agreement administrator is payable to the
government.
GOVERNMENT LODGEMENT FEE
The government decided that a fee of $191.00 should be payable on the presentation of lodgement of a debt agreement proposal.
The
government lodgement fee may be paid to an administrator who has an
account with ITSA. The administrator is invoiced on a regular basis.This may all seem confusing but most people pay less under a Debt Agreement than the total of all of their Debts added together. eg, John owes $55,563.00 in debts. In a Debt Agreement he may only pay back a total of $49,500.00 to clear all the debt and also including all of the fee's. Remember there is no interest, so it is possible to clear all of your debt by actually paying back less than you owe. NSW 02 9623 7860
QLD 07 3613 9648
VIC 03 9993 0116
Call Tony for friendly help guaranteed.
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