An informal arrangement is a negotiation between your creditors (the people you owe money to) in an attempt to put you in a better financial position.

An informal arrangement could consist of:

• Giving you more time to pay.
• Settling the debt for less then the full amount.
• Freezing interest rates for a period of time.
• Freezing payments for a period of time.
• Re-negotiating the terms of the loan or the loan amount.

You may find it hard to complete a successful informal arrangement yourself. This is why Credit Repair Australia® has developed a streamline process to put you in a better position with your creditors.

To find out more about how you can complete an informal arrangement click here.