Debt Agreement Proposal

A Debt Agreement Proposal is a proposal which is made to your creditors to settle your unaffordable debt. The Debt Agreement proposal must be lodged with ITSA and if accepted for processing ITSA will submit the proposal to your creditors for voting over a 35 day period.  Usually a Debt Agreement Proposal is a proposal to repay your unaffordable debt over time however a proposal can only also to repay debt by way of a lump sum payment.  Your proposal may also include a payment of deferred repayments when your circumstances allow.

Usually a Registered Debt Agreement Administrator is appointed to help you formulate a Debt Agreement Proposal