Informal Payment

Endless phone calls from creditors are enough to drive anyone mad. If you want to stop the barrage of calls once and for all, without lasting consequences, an informal arrangement might be for you. Unlike other types of formal agreements that involve some form of legal action, an informal agreement can avoid negative impacts on your credit rating. Not only will it free you from those harassing phone calls; it will help you pay off your debt faster.

How It Works

An informal payment arrangement is similar to a debt agreement, but isn’t considered an act of bankruptcy. This means your informal payment arrangement may avoid any negative impact to your credit rating. It can freeze the interest on your debts and stop creditors from calling. It’s a positive way to settle debt with creditors, ensuring that everyone is happy with the final outcome. In addition, an informal payment arrangement gives you the time and freedom to settle your debts at a reasonable pace – often at a reduced final amount.

What We Do

We work directly with your creditors to determine a realistic repayment plan you both can agree to. From there, you’ll start your new, regular, streamlined and affordable payment plan. Creditors may also agree to pause all future interest, consolidate your outstanding amounts and accept a reduced debt settlement, allowing you to pay a single, manageable rate until your debt is completely eliminated.


In order to apply for an informal payment arrangement, you will need to:

Be 18 or over
Be an Australian resident
Provide documentation
(ID, passport, driver’s license)
Share some information
about your financial situation

How Debt Busters Can Help

At Debt Busters, we’re experts in negotiating informal payment arrangements. If you can no longer pay your secured debt (car loans, mortgage payments, etc.) or unsecured debt (credit cards, personal loans, government debts, etc.), or are struggling to pay debt off quickly, an informal payment arrangement may be the best option for you.

Contact us today or call a member of our team on 1300 368 322 for a confidential discussion regarding your financial situation and how we can help.