Definitions for "Debt Agreement"
a bit like a consolidation loan from a bank, because all of your unsecured debt is lumped into one
a formal arrangement and a legally binding agreement which freezes provable unsecured debts upon acceptance of your proposal by creditors, this allows you to pay back the debts over an extended period of time at an amount that you can afford
an agreement where the people and organisations you owe money to (your creditors) and you agree on a compromise regarding how much you owe them
an arrangement between people who cannot pay their debts. It is a formal arrangement under Part IX of the Bankruptcy Act.
a better option than bankruptcy for Australians
a facility to allow you to pay your debts when your life circumstances change your income level