How Do Government Debt Agreements Work

A debt contract has a term of 3 years, but the term can take up to 5 years if you own a home. Debtors are exempt from most debts after the conclusion of all payments and obligations arising from the contract. A debt agreement is an option for debtors to deal with uncontrollable debt and a flexible alternative to bankruptcy. A Part IX debt agreement is a legal agreement with your creditors to repay your debts at a reduced interest rate you can afford. This is a binding agreement for both parties, which falls under Part IX of the Bankruptcy Act. That doesn`t mean you`re going bankrupt. As a general rule, fines are not a demonstrable debt. This means that you will have to continue to pay them outside of your agreement. The set-up fee for a debt agreement with Safe Debt Management is USD 1,958.00. This amount will be part of your debt agreement – you don`t have to pay it separately. This tax covers the time we spent contacting, negotiating and getting all the relevant information from your creditors…

Comments are closed.