The experts at CRS Insolvency Services have the skills and experience required to accurately assess your financial situation and provide you with the best possible personal debt solution.

If you are unable to pay back all of your unsecured debts, there are a number of personal debt solutions you can consider. Debt Agreements or Personal Insolvency Agreements are two options that many people consider over bankruptcy. Both of these agreements are quite similar, differing slightly depending on what you earn and how much you owe your creditors.

These personal debt solutions provide an affordable repayment plan which is negotiated with your creditors. Once the agreement is set up and agreed upon, all interest on your debts will be frozen. The agreements run over a flexible period of time, which can make the repayments a lot more affordable. They also provide you with protection from your unsecured creditors, stopping them from being able to initiate legal action and try to have you made bankrupt.

It is possible that your creditors will not accept your proposal for one of these arrangements; however in our experience it is fairly rare. If, by chance, the proposal is not accepted, you will still have the option of submitting a revised proposal or applying for an informal hardship arrangement with your creditors. If you do need to consider bankruptcy because your proposal for one of these personal debt solutions was rejected outright, we can help you with that as well.

Call CRS today on 1800 210 073 to discuss your personal debt solution options.