If you’re struggling to repay your debts or have fallen behind, debt negotiation may be one option to consider. In some cases, creditors are willing to accept alternative arrangements — such as lump sum settlements or reduced interest — especially when financial hardship is clearly communicated.
What Is Debt Negotiation?
Debt negotiation involves our team contacting your creditors on your behalf to request changes to your repayment terms. This may include:
- A reduced lump sum payment to settle the account;
- Lower ongoing repayments;
- More time to repay;
- A temporary pause on interest;
- In some rare cases, debt forgiveness.
Every creditor is different — and not all will agree — but we’ll work to find the most practical outcome based on your current financial situation.
How It Works
Firstly we obtain details of your debts, income and living expenses. Then we contact your creditors to explain your situation and propose a revised arrangement. If accepted, you follow the new plan — often at lower repayments or reduced terms. We will continue to support you and communicate with creditors during this process. Outcomes are not guaranteed as creditors must agree voluntarily, and missing payments may void any negotiated deal.
Who Might Benefit?
Debt negotiation may be suitable for people who:
- Are behind on repayments or at risk of default;
- Can offer a lump sum or affordable repayments;
- Have unsecured debts (e.g., credit cards, loans, payday advances);
- Are not yet insolvent and want to avoid bankruptcy or formal debt agreements;
