Eliminate your debt & avoid Bankruptcy.

With our step-by-step approach and experienced team, you can regain control of your problem debts whilst helping you avoid bankruptcy & part 9 debt agreements.

Partnering With You to Eliminate Your Debt

We’ll advocate, & negotiate on your behalf with creditors to settle your debts for a reduced amount. No Bankruptcy, No Debt Agreements.


Freeze Monthly Debt Repayments

We’ll give you much-needed breathing room by helping you to freezing your minimum monthly debt repayments, and in some cases, with zero interest. We will give you full control of your finances and assist you in saving towards reduced settlements by establishing a budget you can live within.


We Stop Harassing Creditor Calls

You’ll partner with a dedicated debt negotiator who will manage your debts and work on your behalf every step of the way. Those forceful creditor calls will stop coming to you within 48 hours, and will be rerouted to us, your dedicated debt negotiator, throughout the program.

009 Cutting Bank Cards

Your Debts Are Reduced & Eliminated

Your dedicated debt negotiator will pursue a heavily discounted full and final debt settlement with your creditors. The final outcome: You walk away having eliminated your debt without bankruptcy or debt agreements.

Here’s how we can help you:


  • We’ll shield you from your creditors and negotiate on your behalf to settle your debts with a significant reduction.
  • Our approach can help you eliminate insurmountable monthly repayments and avoid bankruptcy.
  • With us you can eliminate your debts so you don’t have to enter into a Part 9 debt agreement
  • Savings and discounts do vary from creditor to creditor and based on individual and specific client situations

Frequently Asked Questions

Simple Debt Relief’s “debt reduction program” is considered an “informal” debt agreement without entering into a part 9 debt agreement or bankruptcy to reduce and eliminate unsecured debt. Our professional services have nothing to do with bankruptcy or part bankruptcy (part 9 debt agreements) and do not carry the same consequences for you in the long term. Our debt reductions negotiated on behalf of our clients with banks and collections agencies are legally binding & always full & final. This is usually done by way of lump sum settlements, however we do negotiate reduced balances on unsecured debts by way of payment instillments, however not all creditors accommodate for this & it may not always be in the best interest of our clients.

Recent changes have been made to credit reporting, now with the introduction of comprehensive credit reporting (CCR) in 2021, banks are now required to share more information about your repayment history to credit reporting bureaus. CCR now provides a more holistic reporting of your credit history, however everyones credit file is different and the impacts of (CRR) will be different for everyone. This is something we would discuss with you individually as a client before working with us to ensure you are fully aware of how our services could impact your credit score in the short term (up to 24 months).

It is of our mission and goal whilst working with our clients, to try and avoid negative reporting as much as possible and payment defaults on our clients credit reports as much as possible, however not in all cases we can avoid repayment history being reported or banks and collections agencies listing defaults. Our primary objective is to help you reduce and eliminate your unsecured debts by negotiating a significantly reduced full and final debt settlement with your creditors on your behalf & help you avoid entering into a bankruptcy or part bankruptcy (part 9 debt agreement).

The consequences of bankruptcy or part bankruptcies (part 9 debt agreements), in our opinion, can have far more negative (long-term) impacts because its not just impacting your credit score or credit reporting. Please read our consequences of bankruptcy & part 9 debt agreements FAQ question below to understand how choosing these options vs simple debt relief can impact you. We always recommend speaking to a financial councillor and recommend also you get professional financial advice before choosing any option.

What are the consequences of bankruptcy?

If you haven’t considered why bankruptcy might not be the best option for your situation, here are some reasons to consider;

Bankruptcy could affect your income;

  • Income thresholds for a bankrupt person; $59,559.50 (after tax) any income received over the income threshold amount 50% of your income will go back to repaying your creditors 100cents in the dollar. The threshold amount does increase depending on how many dependents you have but does not go higher than $81,000.92

*Bankruptcy might not be the best option if you are traditionally a high-income earner.

Bankruptcy may affect your place of current employment or the ability to be a director of a company;

There is a list of industries where bankruptcy may affect your employment of certain industry professions, you can find that information here to see if you could be affected. Also, it’s important to note that a Company director or managers subject to a Personal Insolvency Agreement cannot be involved in the management of a company unless authorized by the Court.

Bankruptcy may affect your place of current employment;

There is a list of industries where bankruptcy may affect your employment, you can find that information here to see if you could be affected.

Bankruptcy could affect tools of trade & your vehicles;

  • Tools; a cap on the value of tools of the trade – $3,800.00
  • Vehicles; You can keep vehicles if you use valued up to $8,100.00 if you haven’t paid off the vehicles the amount that counts towards the limit is its value minus what you owe.

Bankruptcy could affect your savings;

The trustee can take any cash or money you have in a bank account at the date of bankruptcy but will leave you with enough for modest living expenses.

  • During your bankruptcy, you can keep the money you save in an ordinary savings account (e.g. not a term deposit) as long as your income doesn’t exceed a set amount and you don’t use it to purchase assets or property.

Some other consequences of bankruptcy are as follows; 

*We recommend seeking professional financial advice from a licensed financial counselor to see if bankruptcy is the right option for you. 

  • During bankruptcy, your trustee may be able to claim, and sell, some of your possessions (assets). Your trustee can use proceeds from the sale of your assets to repay money you owe to creditors
  • Your name will appear permanently on a public register called the National Personal Insolvency Index (NPII). The NPII shows details of insolvency proceedings in Australia, including bankruptcy, and is reported for 5 years from the date you became bankrupt or
  • 2 years from when your bankruptcy ends, whichever is later
  • borrow money or purchase items on credit may be limited
  • may find it hard to get or renew insurance
  • Your name will be recorded by credit reporting businesses for seven years, which may limit their ability to borrow money or purchase things on credit
  • you may not be able to travel overseas you must obtain written approval of the trustee administering your estate.
  • May find it difficult to obtain credit or connect basic utilities (mobile phone, internet)

A debt agreement is a formal arrangement with creditors where you commit to paying a sum of money towards your debts over an established period (typically 3-5 years). It falls under Part IX (9) of the Bankruptcy Act 1966 and is managed through a debt agreement administrator (DAA). The payment sums, terms, and time frame of a debt agreement are proposed by you depending on what you can afford. Creditors then vote whether to accept or reject your proposal. If the majority accepts, all creditors are fastened to the agreement whether they vote or not. Debt agreements are a legally binding type of personal insolvency, separate from bankruptcy, for those debtors with relatively small debts, low earnings, and little assets.

Debt agreements now account for over one-third of all individual insolvencies in Australia. Debt agreements are set out fully in Part IX (9) of the Bankruptcy Act 1966, and while they are not the same as becoming bankrupt, they have similar serious consequences to becoming bankrupt.

What else could a debt agreement affect?

  • Some professions or licensed trades may prevent you from continuing in your employment or require you to show cause why you should be allowed to continue in your employment
  • You cannot borrow, or obtain goods and services on credit, for above a certain amount without declaring that you are in a Debt Agreement.

What are some of the consequences of part 9 debt agreements?

The first consequence is that you have committed an act of bankruptcy when you enter the debt agreement, hearing the term “avoid bankruptcy” can be a little misleading and we have found a lot of our clients upon realising this, immediately do not want to proceed with entering a part 9 debt agreement. That means your name will be entered on the National Personal Insolvency Index (NPII) for five years. This is a public and permanent electronic record of all personal insolvency proceedings in Australia. Added serious consequence to Part 9 Debt Agreements, is that your debt agreement will be recorded in the Public Record section of your credit file for at least five years, and longer if things go wrong. Your credit score will be reduced to -999 or 0, depending on which credit file you’re looking at. You will not be able to go for finance at a normal interest rate until it comes off your credit file, five years later. While it is not discharged, it will be almost impossible to go for finance at all; when it is discharged, you may be able to get some finance, but at a higher interest rate. It is worth consulting trusted finance or credit repair professionals before you apply for any credit after you’ve got one of these agreements.

A further consequence occurs if you stop making payments towards your debt agreement. Non-payment for six months will lead to automatic termination of your debt agreement – but your credit file will continue to show the debt agreement until you do something about it.

Another matter to examine is debt agreements only administered with unsecured debts up to the value of $113,349.60. Unsecured debt is debt that does not have a specific property (like a house or car) serving as security for the payment of the debt. You will nevertheless, still need to make payments towards any secured debts like your home or your car.

What is our conclusion about debt agreements?

One thing our team at Simple Debt Relief has seen is how people’s financial position can completely change after they enter a Part 9 Debt Agreement for the good & the worst which can extend the life of someone’s debt agreement and as mentioned before doesn’t make a clients debt magically disappear. Debt agreements, like bankruptcies, cannot be removed from a credit file.

To sum up, there are a lot of debt consolidation businesses that are marketing Part 9 Debt Agreements to help people “avoid bankruptcy”, but you be the judge, is it? Or is it just another “type” of debt relief that isn’t full-blown bankruptcy? They enter people in these agreements for as little as $8,000 worth of debt – with serious consequences for the people concerned. Don’t be fooled into a part 9 debt agreement, get in contact with our expert team to discuss our “debt reduction program” without the serious long-term consequences of entering into a part 9 debt agreement. Debt Agreements are often marketed as a type of interest-free “loan consolidation” which is misleading so beware!

Our debt reduction program is a viable alternative to part 9 debt agreements are summarised as “informal arrangements” our team of dedicated debt negotiators will go to battle on your behalf & negotiate a reduced “informal agreement” with your creditors that involves you paying a fraction of what you owe (no bankruptcy or debt agreements involved). Our results have seen our clients save 40-100% off their original debt balances.

We also help remove the burdens and stress of debt collectors harassing our clients whilst we go to battle on their behalf. Our program removes you from having to deal with the banks and collections agencies as we immediately intercept phone calls & communications from coming to you while we handle your debt crisis from start to finish until it is gone!

In short, the answer is no. Simple Debt Relief helps people who are in serious financial hardship, due to a number of reasons outside of their control (medium to long term) that are impacting their ability to keep up with their minimum monthly repayments and as a result are considering bankruptcy or part IX debt agreements as the only alternative to get rid of their debts.

Our services have nothing to do with bankruptcy or part IX debt agreements and the serious long term consequences that come with it. Some of the reasons that could put someone in serious financial hardship may include and are not limited to: an illness, loss of work, loss of income, COVID-19 related challenges, irresponsible bank lending etc.

Yes, typically we can only negotiate a significant reduction of unsecured debts greater than $25,000 – $30,000 or greater (i.e. credit cards, personal loans). Get in contact with our team to discuss your situation.

Yes we service Australia wide and are available to discuss via phone and video conference if you need urgent assistance.

Get In Contact With An Experienced Debt Negotiator Today!

Get In Contact With An Experienced Debt Negotiator Today!