As joyous as the Christmas season is, there’s no denying it can be a stressful time of year, particularly for the debtor on a tight Christmas budget.

With looming debts hanging over their heads and legal court cases just around the corner, many debtors can’t help but contemplate declaring bankruptcy during the expensive holiday season.

While Christmas is a time for renewal and bankruptcy offers a fresh new slate, it does come with many consequences that bear consideration.

CRS believes that debtors should first consider the alternatives before completely throwing in the towel this Christmas and beyond.

Recommended options to be considered before bankruptcy include Debt Agreements and Personal Insolvency Agreements.

 Both these agreements are quite similar, and mainly differ depending on how much you earn and how much you owe your creditors.

The agreements provide an affordable payment plan for your unsecured debts, which we negotiate with your creditors. Once the agreement is set up and agreed to by  your creditors, all interest on your debts will be frozen. Thankfully, the agreements can span a flexible period of time, making the payments a lot more affordable.

By applying for one of these agreements, you will be free to enjoy the Christmas season with peace of mind, knowing that you are protected from any unsecured creditors threatening you with legal action or bankruptcy.

At CRS Insolvency Services, we never want our clients to feel like they’re on their own during this process. Our insolvency specialists will handle all payments to your creditors and manage all enquiries from them.

You can find out more about these agreements here or by contacting our 24/7 hotline on 1800 210 073, for free and confidential advice anytime that suits you.