What is a Debtstroyer Agreement?

A Debtstroyer Agreement is essentially an informal debt agreement which may reduce your overall debt repayment amounts, pause your interest and give you more time to pay off your debts in one easy regular repayment – which can minimise the impact on your credit file. This is a proactive solution set up between you and your creditors allowing you to repay your debts, take control of your life and gain financial freedom.

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.

How to Qualify

In order to enter into a Debtstroyer Agreement, you must be experiencing financial hardship through extenuating circumstances. In other words, you must be able to prove you are in a position where you cannot repay your bills through no fault of your own. Some examples of this include:

  • Unexpected and ongoing health and medical issues
  • Financial burdens from a relationship breakdown
  • A permanent loss of income or permanent reduction in income
  • Business/Industry failure
  • Approaching retirement with no ability to repay debts
  • Other unforeseen changes effecting your ability to service outstanding debt amounts

There are no maximum or minimum restrictions on the amount of debt you owe, your assets or your income. However, you must be able to maintain the repayment plan you put forward to your creditors for the agreed amount of time or be able to settle your debts through a lump sum payment.

3 Easy Steps

  • Get in touch – Get in touch with us and we’ll assess your financial situation.
  • Negotiate with creditors – We do all of the heavy lifting and negotiate with creditors on your behalf.
  • Approval – Once your creditors have agreed on the proposal, you’ll soon regain control of your finances.

Types of Debtstroyer Agreements

Our professional team of debt negotiators strive to arrange a tailored debt solution for you. The arrangement will depend entirely upon your debts, your budget and your financial position both now and into the future. Here are some of the Debtstroyer Agreements we can arrange for you:

Long Term Informal Agreement

This arrangement reduces the minimum repayments, pauses or significantly reduces interest, has no ‘typical’ term but may be several years and in many cases even reduces the principal debt amount.


A short-term arrangement which pauses or significantly reduces repayments and interest over a period of up to 12 months.

Loan Renegotiation

A negotiation of current loan terms and conditions to reduce their minimum loan repayments or interest rate.

Debt Settlement

Designed to waiver, reduce debt or negotiate a single lump sum payment to settle outstanding debts. This could be beneficial where you are only able to refinance a certain amount which may not payout all of your debts in full of you are able to source a lesser amount of funds from friends or family.


A specific agreement to manage individuals caught up in failed agribusiness loan schemes. This could be a single lump-sum payment, a moratorium or long term payment arrangement, depending on the individual’s financial capacity.

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 who owns her own home. In addition to her mortgage, Kerry has a car loan, personal loans and credit cards. Unable to afford her debt repayments, she quickly found out declaring Bankruptcy or entering a Debt Agreement would impact her Real Estate Agent License and she wouldn’t be able to work.

Upon contacting Debt Rescue, we were able to assist Kerry with a Debtstroyer Agreement to propose a reduced payment arrangement based on her budget. She is now able to repay her debt in affordable instalments and carry on working.

"Fantastic service – My Case Manager was amazing and their knowledge, patience, understanding and compassion for my plight was endless. All I can say is - if you are in a financial mess, look no further."

How a Debtstroyer Agreement Can Help You Out of Debt

A Debtstroyer Agreement has a number of fantastic benefits, making it a preferred debt relief solution for struggling Aussies.

Reduce Your Debt

A Debtstroyer Agreement will reduce your overall debt amount and could save you thousands through paused interest and fees.


Each Debtstroyer Agreement is tailored to suit your personal financial situation. It can include one debt or several debts and leave you with a single, manageable repayment.

No Limitations

You can own property and vehicles without adhering to a capped value, keep any unexpected windfalls and continue to work, run or manage a business.

No Lasting Effects

Because it’s negotiated privately, a Debtstroyer Agreement won’t appear on your credit report and your name won’t be listed on the National Personal Insolvency Index (NPII).

Free You From Stress

A Debtstroyer Agreement will get creditors off your back and free you from the stress of harassing phone calls and letters. All recovery action will stop.

It’s Easy

We take care of everything, from preparing and lodging your documents to creditor negotiations and distributing your payments. You don’t have to worry about a thing.

Debtstroyer Agreement F.A.Q

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

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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.