I received this email this morning:


I have been researching the consequences of my part 9 debt agreement I entered 3 years ago and I’m looking to get some advice. I have one with company name witheld and was misled when entering into it that it would repair my credit to do so, and what I’m reading looks like I will never get credit I’m so confused as I was told the opposite by them.. I now feel stupid, I don’t get regular updates from them and the other day they defaulted my payment after trying to take it early without notification. I also do not get regular statements from them and had to request one this week, so I don’t even know what fees they are taking out.

If you know anyone that can look into any of this for me or if you know where I can get some information, I would be very grateful

Kindest Regards


Part 9 Debt Agreements are an option available for those looking to address their debt. These are complex legal agreements which can provide eligible persons an pathway to address their debt.

What are the consequences of part 9 debt agreements?

  • Your credit file is marked for 5 years, and you may not be able to get credit approved including for something as simple as a new mobile phone for that period of time.
  • Your name will be listed on a public register called the National Personal Insolvency Index for 5 years.

Is there another way to get debt relief and consolidate your debt?

There are lots of options available to those seeking to reduce their debt, including seeking professional financial counselling, such as contacting the National Debt Helpline on 1800 007 007 and speaking to a financial counsellor.

Solve My Debt Now

Solve My Debt Now also provides services to those struggling with debt, by providing a holistic debt relief solution that can be an alternative to immediate insolvency or bankruptcy.

Our debt relief solution aims to achieve any or all of the following outcomes for you:

  • Negotiating with creditors to reduce or waive your debt based on your current circumstances.
  • Negotiating with creditors to reduce or suspend your interest payments.
  • Where successful, avoid leaving a 5-year black mark on your credit file in contrast to the outcome of a part 9 debt agreement or bankruptcy filings.
  • Minimises your contact with creditors wherever possible.
  • Setting up payment plans with your creditors within your estimated budget to make paying back your debts manageable over time.

We Can Help You – Today

The Solve My Debt Now team are experienced, non-judgmental professionals who work to provide tailored solutions for our clients. Book your FREE Consultation now and talk to one of our qualified SMDN Advocates to see if we can help. It just may be the call that puts you back on the road to financial freedom.