Case study

How Simone resolved her failed business debts and cut repayments by 50%

Informal Agreement
Initial debt
$33,000
Outcome
50% reduction
in repayments

Key results at a glance

Results that speak for themselves
$33,000
Total debt managed
$810
Saved per fortnight
50%
Reduction in repayments

The challenge

Despite working full-time, the financial hangover from a failed business left Simone trapped in an unmanageable and stressful debt cycle.

Failed business debt

A previous business venture left Simone solely responsible for $33,000 in liabilities, including a significant ATO debt.

Unmanageable repayments

Minimum fortnightly repayments of $1,570 were draining her single income and creating severe financial strain.

Multiple creditors

Managing payments across five different creditors became an overwhelming administrative burden.

Personal implications

The sheer volume of the business debt threatened her personal financial stability and future prospects.

The solution

After assessing Simone’s goals – specifically her desire to avoid formal insolvency – we implemented a Personal Informal Agreement.

Comprehensive financial assessment

We evaluated Simone’s specific income in sales and marketing and her $33,000 debt spread across the five creditors.

Practical guidance

We provided a clear, non-judgemental overview of how a Personal Informal Agreement could address her business debts cleanly.

Tailored solutions

We negotiated directly with all her creditors, including the ATO, to agree on a significantly reduced repayment plan that fit her budget.

Complete transparency

We ensured Simone understood the terms of the new agreement and the exact timeline for clearing her debts.

Why this approach worked

Getting started is easy and straightforward

Reason 1

Significant repayment reduction

By establishing a Personal Informal Agreement, we successfully negotiated Simone’s fortnightly obligations down from $1,570 to just $760, instantly putting $810 back in her pocket every two weeks.

Reason 2

Simplified financial management

Instead of juggling five demanding creditors – including the ATO – Simone now makes a single, affordable payment, addressing her failed business debts without any further negative implications to her personally.

The result

Simone successfully executed a Personal Informal Agreement, experiencing immediate financial relief and peace of mind. The outcome provided a realistic, stress-free framework to manage her business and tax debts while halving her repayment burden.

Before
After
Improvement
Fortnightly repayments
$1,570
$760
$810 saved per fortnight
Number of payments
5 separate accounts
1 consolidated plan
Simplified financial management
ATO debt status
Outstanding & unmanaged
Included in active plan
Resolved business liabilities
Financial pressure
Critical / unsustainable
Managed & affordable
50% reduction in outgoings

Additional benefits

A comprehensive approach to your financial recovery

Avoided severe personal implications from past business debts

ATO debt effectively and safely managed alongside other creditors

Mental clarity and reduced financial stress

A clear, sustainable pathway to becoming completely debt-free

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Andrew
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I found the process a bit overwhelming but was put at ease, with the service I received. I thought it would be a difficult process but with a lot of guidance and patience from Revive the overall experience was great.

Anonymous
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I honestly can’t thanks Cloe night, she was patient, caring and thorough. I felt supported and that she really cared! This has changed my life, I no longer have the stress of where I will find the money to pay my debts! Thank you from the bottom of my heart 🙂

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Sally Tarquinio
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I can’t recommend Revive highly enough. Before contacting them, I felt like I was drowning in debt and had no idea where to start. The stress was overwhelming, and I was embarrassed about my situation. From the very first conversation, the team made me feel comfortable and never judged me. They explained everything in simple terms and made the whole process incredibly easy to understand. What I thought would be complicated and stressful turned out to be straightforward and manageable. The biggest surprise was how quickly the weight started to lift off my shoulders once I had a plan in place. The process wasn’t embarrassing at all—in fact, it was a huge relief talking to people who genuinely wanted to help. If you’re struggling with debt and feeling overwhelmed, don’t put it off. Reaching out to Revive was one of the best decisions I’ve made

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