Personal Insolvency Agreement: When to get help

Getting help with personal insolvency agreements is an option that you can definitely save you from the woes of bankruptcy. A personal insolvency agreement (PIA) or Part X allows you the flexibility to pay your debts with creditors without the stress and smear of bankruptcy. However, proposing a personal insolvency agreement is bound by laws and guidelines that you must religiously adhere to. Furthermore, entering into one should mutually protect the interests of both parties. It is, thus, wise to seek help to ensure your interests on the matter.


When to Get Help

1. Advice and Mentoring. Personal insolvency agreement help comes in many forms. Basically, you need personal insolvency help because you are in deep debt. It is difficult to maintain an objective and balanced mind in an exhausting situation. You need advice on how to settle your debts over a prescribed period of time given your capability to pay. Debt Helpline Australia is a division of DCS Group offers free consultation to see if you are eligible to this type of agreement as well as the best options that you can get if you opt for personal insolvency agreement. Their line is also open for free phone consultation.

2. Preparation of Legal Documents. Help with Personal Insolvency Agreements also extends to preparation of legal documents including your proposal. Your proposal might seek for payment of an amount lower than the original loan plus penalties. It will also include assets that you can transfer as payment to creditors. The process will entail legal documents and terminologies that can be explained by experts in this area. You need, most of all, legal experts to draw up the needed documents such as the Statement of Affairs and the agreement itself.

3. Meeting with Creditors. You are going to need personal insolvency agreement help in the form of representation in meetings with creditors. During the meeting, you are going to talk about the period of time you are going to pay your debt, the frequency and the amount of payment. You would feel more confident and comfortable to have an ally with you during these meetings to convince your creditors to accept your proposal. Or an official trustee is delegated to administer the agreement. See more at Debt Helpline

4. Registered Trustee or Official Trustee.  As a basic rule, you can opt for the agreement if your debts exceed $120,000. If your debt is quite considerable, then you need a registered trustee or official trustee to administer the agreement. The trustee will be responsible for distributing your repayments to your creditors as agreed.

The Consequences of Personal Insolvency Agreements

Help with insolvency agreements includes advice on the consequences of personal insolvency agreements. Debt Helpline Australia reminds you that once you enter into this agreement, you will be afforded flexibility in paying your debts. However, the agreement is legally binding. Thus, you must do your obligations stated in the document. The agreement will end once you have complied satisfactorily your obligations. Second, your agreement will be on your record. Although it will show in the future that you have made your payments, you may encounter some problems securing a loan from creditors. It is, however, a better option than filing for a bankruptcy.

Help with personal insolvency agreements is offered by Debt Helpline Australia. Aside from personal insolvency agreements, the company also offers help in debt agreements, debt relief and credit card debt solutions. If you have problems in these areas, the company can offer fast and reliable solutions so you are free from the bondage of debt obligations.

Determine why you should involve credit risk insurance in a business

Before you go to the market for quotes, you should identify what your interest in credit insurance is, and how it can benefit your business enterprise. As a custom tailored financial tool, this coverage comes with many benefits despite the misconceptions about it. For instance, in Australia, reliable companies for credit insurance such as credit insurance by niche trade credit exist to help business people on bad credit related issues.

In addition, credit insurance is designed to protect you from unexpected losses due to insolvency or past due default on the part of your insured customers. Therefore, it is advisable to involve reliable experts who specialize in this coverage, to conduct credit evaluation on the accounts you wish to insure. They can approve accounts for specific credit limit based on their request, and the result from their research. Here are some reasons why you should go for credit insurance for your business.

Unexpected loss protection

In many companies and industries, experts suggest that approximately 20% of accounts represent about 80% of the company’s revenue. In some cases, the concentration of credit exposure among key customers can be greater. Therefore, if you consider your receivables as a concentration of all your cost and profit, then you can create them based on nothing but customers’ promise to pay.

This shows a tremendous amount of risk facing your business. Even with customers you trust, the risk of unexpected default may persist. Therefore, reliable experts for credit insurance by niche trade credit suggest that you should use credit insurance as a great tool to remove this catastrophic risk from your business.

Safe sales expansion

Many times, your customers would want to get more credit than you are comfortable giving them. Similarly, some of your new customers with whom you are not familiar with may seek meaningful amount of credit from you. While investing in professional credit practice to review these requests and limit your sales due to concern over the risk, credit insurance can be an ideal answer.

Many companies today use credit insurance to expand their existing credit limits, without putting themselves at additional risk. It also helps in covering open credit sales to new accounts, where you might have limited sales history and information. Involving a reliable credit insurance agency such as credit insurance by niche trade credit, can not only allow you recapture the premium, but also help you drop additional profit to your bottom line.

Credit decision support

As noted earlier, the underwriter of your credit insurance policy should research, approve, and monitor the accounts you want to insure appropriately. Involving a reliable financial analyst to do this work for you as part of your credit risk insurance program, can add a lot of expertise to your credit practice. This can allow you to focus your internal resources to cash flow management and collections work. Therefore, having the carrier watching your covered accounts and helping you evaluate credit limits on new risks can be a great advantage to the program.

For more information on reliable experts that offer credit insurance services, visit

Discover 5 financial mistakes people make

Are you a hard worker with an excellent career, diligent in all aspects, but wondering why you have not yet made it financially?  In most cases, the problem is how you act, think and feel about your finances. Making right choices with your finances can make a difference.  You may be making some mistakes that most people make when it comes to handling their finances. Free financial advice can help you soar high in your finances by avoiding the mistakes below.

Frivolous or excessive spending

You can lose a great fortune by spending a single dollar at a time. When spending few dollars on luxury, it may seem like just a small amount. However, if you calculated the amount you’ve spent by the end of the week, you realize that you’ve spent more than you would imagine.  The money you spend on small things here and there could be spent doing other important things.  If you are facing financial constraints, you need to avoid this mistake. One dollar spent in the right way can make a huge difference in your financial life.

Constant payments

You need to know if you really need all these items that you keep paying each month, every year. For instance, things such as subscription video games or radio, cable television, pagers and cell phones can make you keep making unceasing payments. If you are tired of financial constraints, live a leaner lifestyle that enables you to spend less and save more. It also saves you financial hardships.

Living on debts

Today, it is normal to use a credit card to buy most of the essentials.  Despite the trend, you do not have to be part of the consumers willing to pay high interest on groceries, gasoline, and other items bought via a credit card. Apart from paying high amount whenever you buy through your credit card, buying on credit increases your appetite to spend.

Buying a new auto

Many cars are on sale every year. However, very few people manage to purchase these cars in cash. If you cannot pay for your car in cash, you are probably not able to afford the car.  Experts may tell you that borrowing to purchase a car means that you pay interest on an asset that is depreciating, thus you end up paying more than the value of the car.

Buying a very large house

When buying your house, it is not always advisable to go for a very bigger house, unless your family is very large. Choosing a very big house will require you to pay high taxes, and high maintenance and utilities cost.  Such cost adds into your monthly payments.

You may be wallowing in debts due to poor financial planning. While some people ignore the importance of proper financial planning, others find it unaffordable. The good news is that free financial advice is here to help. The advice can help you know the mistakes you are making as far as your finances are concerned, and how to avoid such mistakes.   It is not too late. You can still turn around your finances by learning from trusted free financial advice.

Why Debt Mediators Are Best Suited for You

It is hard enough having to contend with huge debts that seem to grow bigger by the day. It is even more difficult trying to escape from the wrath of lenders. Well, someone going through this kind of phase should know they are not alone because out there, thousands upon thousands of borrowers are in a tight fix. When faced by this kind of scenario, it is time to look for offers for debt mediators - loans for people with bad credit from across the state to help put an end to one’s struggles.

Debt Mediators - loans for people with bad credit

When someone has been struggling with debts, they are likely to have poor credit scores. A consumer wishing to apply for any kind of credit will often have the credit score scrutinized since lenders have to know if a borrower is likely to pay. One with a high credit rating is likely to obtain credit while someone who scores lowly must convince lenders they are likely to repay any form of credit they are given. In case lenders are not convinced, they are likely to deny the consumer money. An individual in this kind of state must look for a solution which is seeking options for debt mediators – loans for people with bad credit available at present.

Although different lenders calculate credit scores differently, one factor remains clear; someone who has been having trouble in loan repayment, a borrower who has been previously declared bankrupt or has had foreclosures can have a negatively impacted credit score. The more one has blemishes on their credit scores, the more lenders become weary of their ability to manage their debts. In this case, the most appropriate action to take is look for offers for debt mediators – loans for people with bad credit available at the moment from a local lender.

Some borrowers wish to give up when they knock on the door of several lenders but get turned away, yet this should not be so. By seeking solutions for debt mediators – loans for people with bad credit, one can obtain a good bargain. Debt mediators are experts who negotiate favorable payment plans for people with poor credit scores. After examining the state of one’s finances, they work out what an individual is worth and talk to lenders to give flexible loans that a consumer is able to pay without undue pressure.

At times an individual might think they have reached the end of the tether when they get turned away by lenders, yet they are not even halfway there. By seeking bad credit loan help, one could just breathe a sigh of relief at several offers available to them. Though of course it is not sound to rush to the first bidder as some offers look incredibly good when in actual sense, they are scams.

At the moment, there are loans that are designed for applicants with impaired credit scores. This basically means that even someone who was on the verge of giving up hope can get something from lenders. When in need of help with bad credit loans, all one needs to do is knock on the right door and they could obtain lending with reduced interest rates as well as flexible repayment time.