When you’re struggling with a pile of debt and contemplating a Debt Agreement, you don’t have the time or energy to search the myriad of websites and call centres for the answers to all your probing questions, doubts and queries. That is why the Debt Agreement Advice Centre (DAAC) is the #1 debt assistance companion of any Australian facing insolvency.

The DAAC website has all the answers you are searching for in one place. No need to spend hours hunting around; we’ve done the hard work for you. Our website provides individuals with financial debt assistance and the answers to all of their questions regarding Debt Agreements. Wondering what happens to your car, how long the Debt Agreement process will take or how much it will cost you? The Debt Agreement Advice Centre can answer that!

At DAAC, we firmly believe in doing what is best for you, the customer, and not just ourselves as a business. We understand the financial struggles our clients are dealing with before they come to us, and so for this reason we keep our Debt Agreement advice entirely free. You will not incur any fees with us until we have completed a full financial assessment for you and can confirm that we are able to provide you with a suitable, formal debt solution – at the lowest price, guaranteed!

For more information on the debt assistance services provided by DAAC, or for free and impartial Debt Agreement advice, contact our 24-hour hotline on 1800 653 485.

Many factors can contribute to a person’s debt crisis. Such factors may include unexpected events such as redundancy, ill health, a costly divorce, and so on. If any one of these sounds familiar to you, you might find yourself in a situation where you are facing the prospect of having to seek legal financial options to address your debt situation.

People in such positions are often stumped as to which option is best for them. You may be wondering whether to apply for bankruptcy or go for a less serious option such as a Debt Agreement.

The Debt Agreement Advice Centre (DAAC) has compiled a checklist to help you decide if a Debt Agreement might be the most suitable option for you:

1. If your unsecured debts are less than $105,086.80 or your income after tax is below $78,815.10 – These figures are indexed and current as of September 2014. They tend to increase every 6 months or so, so it is recommended you check with the DAAC or the Australian Financial Security Authority website for up-to-date figures.
2. You want to save your assets -If you file for bankruptcy, you are essentially handing over all of your substantial assets to a Trustee, who will then sell what is necessary to pay off your debts to creditors. But a Debt Agreement should allow you to keep your assets, depending on your circumstances.
3. You want and have the capability to control your own finances – Unlike a bankruptcy where you must report to a Trustee, under a Debt Agreement you can still have total control over your finances. You may be able to pay off your debt over a period through regular instalments, or arrange to pay a lump sum instalment in full and final settlement of the debt. Compared to bankruptcy, there are many flexible options available to you with Debt Agreements.
4. You are a director of a company or a number of companies – Even with obligations under a Debt Agreement, you are still able to manage your company and maintain the position of director.
5. You want to be able to travel – Unlike bankruptcy (where you need a Trustee’s permission to leave the country), if you enter into a Debt Agreement you are free to keep your passport and travel as you please.

If you think that you may be a potential candidate for a Debt Agreement with your creditors, contact DAAC today for a free, honest assessment of your financial situation. You can call our team of insolvency specialists on our 24-hour hotline for expert advice. Call now on 1800 653 485.