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What is a Debtstroyer Agreement?

A Debtstroyer Agreement is an informal debt agreement that can help you overcome severe debt.

This is a proactive solution set up between you and your creditors allowing you to repay your debts without the lasting consequences of other debt relief solutions.

The informal nature of a Debtstroyer Agreement allows us to negotiate a repayment arrangement or a lump sum settlement of your debts without having a lasting impact on your credit file.

Debt Agreement Administrators with Debt Rescue

Destroy your debts with a Debtstroyer Agreement. We will tailor these informal negotiations to suit your situation.

Protect Credit File

You can avoid entering a formal act of bankruptcy with a Debtstroyer Agreement, so it won’t appear on your credit file.

Reduce Debt

We’ll negotiate privately with your creditors to reduce the amount of debt you owe and attempt to pause the interest and fees.

Tailored Solution

A Debtstroyer Agreement is a unique solution. It could involve a lump sum settlement, repayment arrangement or complete debt waiver.

Breathe Easy

Blow your debts out of the water with a Debtstroyer Agreement. Pay your debt, preserve your credit score, and get on with living.

Informal Agreement Criteria

Debtstroyer Agreements are private, so there are no specific criteria to be eligible.

However, if your debt is the result of extenuating circumstances, your creditors are more likely to be open to negotiations. Examples of these circumstances include:

  • Sudden illness or injury
  • Temporary change in employment
  • Change in living arrangements, such as separation or divorce.

A Debtstroyer Agreement is also suitable for people who don’t fit the requirements for a Part 9 Debt Agreement. Likewise, if a formal act of bankruptcy might impact your employment, a Debtstroyer Agreement could be the ideal alternative.

How We Offer the Best Informal Agreement Advice

Debt Rescue will assess your circumstances and financial capacity to determine if a Debtstroyer Agreement is suitable for you. Should a Debtstroyer Agreement be the best course of action, Debt Rescue will refer you to RJH Accountants, who specialise in debt negotiation. They’re also part of the Lanyana Financial Group.

Creditors and lenders quite often have teams of debt collectors who aim to recover as much money as possible for their company. Going head-to-head with these professionals can be incredibly daunting and stressful.

The expert team at RJH Accountants are equally skilled, but they’re on your side. Together we take the emotion out of your debt negotiations and use our industry knowledge and experience to get the best outcome for you.

Success Story: Kerry's Debtstroyer Agreement

Kerry is a Licensed Real Estate Agent and is proud to own her own house.

In addition to her mortgage, Kerry has a car under finance, personal loans and credit cards. With a dip in economic conditions, Kerry had a few slow months in a row and her commissions weren’t enough to cover her debt repayments.

Kerry soon found herself in a position where even if her commissions did increase, she wouldn’t be able to catch up with her debts and still afford her everyday living costs.

Kerry quickly found out that declaring bankruptcy or entering a Part 9 Debt Agreement would impact her Real Estate Agent License and she wouldn’t be able to work. She called Debt Rescue for help.

Debt Rescue was able to assist Kerry with a Debtstroyer Agreement. As Kerry was gainfully employed, Debt Rescue was able to propose a reduced repayment arrangement to her creditors based on what she could afford.

Kerry’s creditors accepted our proposal and Kerry was able to repay her debt in affordable instalments and carry on working as a Real Estate Agent.

How Debt Agreement Administrators Work

Build Proposal

Debt Rescue will discuss your financial situation with you and RJH Accountants to build a proposal to take to your creditors.


The informal negotiations with your creditors will begin. RJH Accountants will strive to achieve the best outcome for you.


RJH Accountants will reach a mutually beneficial agreement between you and your creditors and your Debtstroyer Agreement will come into effect.

Debtstroyer Agreement FAQs

A Debtstroyer Agreement is tailored to suit your personal circumstances. If you have any further questions, feel free to call our friendly Case Managers for an obligation free chat.

Is a Debtstroyer Agreement right for you?

Because a Debtstroyer Agreement operates separately to the Bankruptcy Act, there are a few things you need to be wary of. All of your creditors must be on board and agree to your proposal for your Debtstroyer Agreement. It’s imperative you have experienced, professional Debt Negotiators, like the team at Debtstroyer. You shouldn’t break the terms of your Debtstroyer Agreement by consistently missing repayments without explanation. Your creditors can reinstate your original debts and start recovery proceedings. Remember, a Debtstroyer Agreement is legally binding. Your creditors cannot pursue you for any additional funds, but you must stick to the agreed repayments.

Will a Debtstroyer Agreement affect my credit file?

No. Your credit file will not be affected by a Debtstroyer Agreement. This is because an Informal Agreement is negotiated privately with your creditors and isn’t legislated under the Bankruptcy Act. It is still a legally binding contract which you and your creditors must adhere to. If your debts are in arrears prior to entering a Debtstroyer Agreement, you may already have a default on your credit file. However, entering a Debtstroyer Agreement will help you manage your debts and avoid any further defaults. Should you not meet the terms of the Debtstroyer Agreement, your creditors will have the right to recommence recovery proceedings, which could lead to them listing defaults and judgements on your credit file.

Can I enter a Debtstroyer Agreement while on Centrelink payments?

Yes. You can enter into a Debtstroyer Agreement while you are on Centrelink benefits.

What debts can be included in a Debtstroyer Agreement?

You can include any debt you owe in a Debtstroyer Agreement. Typically credit cards, personal loans, utility bills and tax debts are included in a Debtstroyer Agreement. Debtstroyer Agreements can also renegotiate your unsecured debts to fit in with a mortgage refinance or debt consolidation loan.

Can joint debts be included in a Debtstroyer Agreement?

You can include joint debts in a Debtstroyer Agreement. However, the co-borrower will need to be party to the Debtstroyer Agreement.

Will a debt agreement affect my employment?

Certainly not. These arrangements don’t carry the legal weight of bankruptcy, so your employment shouldn’t be affected in the slightest.

How do I make repayments?

You will pay one regular repayment into an audited trust account. From there, we will distribute the appropriate funds to your creditors according to the terms of your Debtstroyer Agreement.

What is the difference between a Part 9 Debt Agreement and a Debtstroyer Agreement?

A debtstroyer Agreement is similar to a Part 9 Debt Agreement. It allows you to reduce your debt, pause your interest and make repayments in peace. Key differences include:

  • It won’t impact your credit file
  • Not written into the Bankruptcy Act
  • It doesn’t have limiting criteria

Relevant Articles

For insightful information on Informal Agreements and how they can help you reduce your debt, discover our archive of Informal Agreement articles.

If you are in too deep with debt, we here to rescue you. We have the right solution for your situation. Contact us today. No obligations, just solutions.

Need Help with a Debtstroyer Agreement?

Debt Rescue can call on its team of expert debt negotiators, RJH Accountants, to achieve the best possible outcome. If you have unmanageable debts and you feel as though you have no options left, give us a call on 1800 00 3328.

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