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Take Back Financial Control
with an Informal Agreement

If the mounting debts in your life are crushing your hopes of ever gaining financial stability – an Informal Agreement might be for you. An Informal Agreement is a debt management solution negotiated with creditors to reduce debt and pause interest over a fixed repayment term.  

An Informal Agreement is not bound by legislation – its key outcome is to ensure that negotiated creditor repayment is manageable based on your budget prepared with a Customer Success Specialist.

While reductions are not generally guaranteed under an Informal Agreement, proven financial hardship can assist in achieving this outcome – allowing you to gain control of your financial future.

Staying on target

Benefits of an Informal Agreement

  • Alternative to Bankruptcy: Provides a viable option to avoid bankruptcy and its associated limitations. 
  • Credit File Protection: Acting early can prevent significant impact on your credit file 
  • Simplified Payments: For ongoing arrangements, make one easy regular payment, with Revive Financial handling all collections and payments on your behalf 
  • Interest Reduction: In most cases, interest is paused or substantially reduced on your debt. 
  • Debt Reduction: In most cases, it allows you to reduce the total amount you need to repay to your creditors.  
  • Selective Debt Inclusion: Not all debts need to be included, giving you flexibility in managing your financial obligations. 
  • Credit Relief: Calls and harassment from creditors cease once they recognise we are working with you to find a solution. 
  • Creditor Cooperation: An administrator of your debts increases the likelihood of creditors continuing negotiations and reaching a final settlement.  

Considerations and Consequences

  • Credit File Impact: Informal Agreements are negotiated under Financial Hardship, which may reflect on your credit file for 1 year from the month the arrangement ends if the credit provider participates in Comprehensive Credit Reporting. Financial Hardship information is visible but does not impact your credit score. However failure to meet minimum repayments during the preparation and negotiation of the agreement can impact your credit file.

    Additionally, failing to meet agreed repayments during the administration of phase can impact our ability to pay your creditors, resulting in missed repayments being reported on your credit file.  
  • Compliance Requirement: If you don’t meet the terms of your Informal Agreement or make your payments in full and on time, creditors can recommence collection proceedings, take legal action or pursue bankruptcy.  
  • Non-Participating Creditors: Not all creditors may agree to a negotiated arrangement and therefore may not be included in the Informal Agreement.  

The Informal Agreement Process

Submit Application
1 - 2 days

Complete our online application process to provide the details of your financial circumstances. Your personal Customer Success Specialist will discuss the Informal Agreement with you and any alternative options available.

Provide information on your financial circumstances via online application

Discuss options and engage Revive Financial

Implement Solution
1-2 Weeks (+ 21 day Creditor voting period)

Your personal Customer Success Specialist will finalise your proposal and present to your Creditors for consideration. Our specialist team of negotiators will seek favourable outcomes for you.

Review of your application details by our internal Compliance Team 

Finalised proposal signed and presented to your creditors for negotiation

Take Back Control
3 - 5 years

Enjoy the financial relief provided by your Informal Agreement Agreement to clear your unmanageable debts and start building a positive financial future today. 

Your finalised proposal is accepted by your creditors 

We collect your affordable repayments and distribute to your creditors


Informal Agreement

$30,000 in a mixture of credit card and buy now pay later debts as well as a personal and short term loan


Rising cost of living + brief period of unemployment

Find out how we helped Amanda

Our Solution

Helping Amanda Take Back Control of Her Finances

During a brief period of unemployment, Amanda relied on her emergency credit cards to get her through - but with rising costs of living she was concerned she would never be able to get on top of her repayments.

Not sure of what to do next, Amanda filled in our online form and had a consultation with one of our Customer Success Specialists. They worked through and determined that Amanda could clear her debts in 5 years on an affordable weekly payment of $110 per week after prioritised living expenses (rent, utilities, food, fuel etc).

Our expert team negotiated the terms with Amanda’s creditors on her behalf, in order to get the plan agreed. This involved explaining to creditors in detail what she could afford and the timeframe for repayment.

Positive Outcome

Amanda Now Has Stability

30% Debt Reduction

Amanda’s creditors agreed to the arrangement and was able to have all interest removed from her debt.

Stress-Free Recovery

Without the financial stress, Amanda was focussed on moving forward with her life

The Impossible Was Possible

She could repay her debts at an affordable amount, reducing the pressure.

Why Choose Revive Financial?

Navigating an Informal Agreement can be complex, but you don’t have to do it alone. Revive Financial’s specialised team can guide you through the process, ensuring you find the most manageable solution for your unique situation. Our experts will work with you to craft an agreement that alleviates your financial pressure and sets you on the path to a brighter financial future.

You're In Safe Hands

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At Revive Financial, we care about the stress and impact being in debt has on your wellbeing. We want to help you take back control with no judgement, just a helping hand.

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Financial Professionals

Revive Financial is proudly Australian owned and lead by a team of Chartered Accountants. Our qualified team have been helping Australians become debt free since 2005.

Tailored Solutions

Industry Leaders

Our dedicated team have been trusted by over 10,000 Australians to help take back control of their financial futures. It's what we do best so you can rest assured.

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Download Our eBook

Learn how to turn negative to positive today with a FREE ebook produced by our team of finance professionals, just for you. This helpful guide outlays all of the debt management options available and will assist you in understanding how you can take back control of your financial future.

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Take the First Step Today

Don’t let debt control your life. With an Informal Agreement, you can take proactive steps towards financial freedom. Contact Revive Financial today to learn how we can help you create a sustainable debt management solution and take back control of your financial future.

Frequently Asked Questions

What debts can be included in an Informal Agreement?


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

Do all creditors have to agree to the proposal?


What happens if a creditor doesn't accept the proposal?

You need to maintain the regular minimum repayments to that creditor.

Are my debts paid out?


An Informal Agreement is a renegotiation of your existing debts, and not a new loan.

Can I include joint debts in an Informal Agreement?


You can include joint debts in an Informal Agreement. However, the co-borrower will need to be part of the Informal Agreement.

Will an Informal Agreement affect my employment?


Can I travel overseas?


There are no restrictions.

Can I enter an Informal Agreement on Centrelink payments?


You can enter an Informal Agreement while you’re on Centrelink or pension payments.

What happens if I miss a payment?

If you fail to make payments in full and on time, creditors may terminate the agreement. They may then recommence collection proceedings, take legal action or pursue bankruptcy.

What types of Informal Agreements are there?

There are multiple. Your Customer Success Specialist will work with you to arrange the most appropriate debt solution which will rely on current information around your debts, your budget and your financial position both now and in the future. Below are some of the tailored Informal Agreement types we can arrange for you:

Long Term Informal Agreement: This arrangement reduces the minimum repayment, pauses or significantly reduces interest, has no 'typical' term but may be several years and in many cases even reduces the principal debt amount.

Moratorium: A Moratorium is a short term arrangement with creditors (secured or unsecured) which pauses or significantly reduces repayments and interest over a period of 3 to 12 months.

Debt Settlement: A Debt Settlement is a great options for customers with access to a lump sum not sufficient to repay outstanding debts in full. It is designed to waiver or reduce debt amounts to allow final settlement with creditors. A Debt Settlement is often an excellent solution for customers only able to refinance their mortgage to an amount which may not pay out debts in full, or where an amount of funds is available from family or friends.

Agribusiness: An Agribusiness arrangement is a specific arrangement for individuals caught up in failed agribusiness loan schemes. An Agribusiness arrangement can take the form of a Long Term Payment Arrangement of a Lump Sum Settlement depending on the financial capacity of the individual.

Loan Renegotiation: Is a renegotiation of current loan terms and conditions to reduce interest and increase the loan term with the ultimate outcome being a reduction in the minimum loan repayments.

How long will my Informal Agreement last?

The specific terms and conditions of each Informal Agreement are unique and particular to the individuals and lenders involved. In general, the average Informal Agreement typically lasts between 3 to 7 years. However, you can complete it earlier if you make larger repayments than the set amount.

Will an Informal Agreement affect my credit rating?

Informal Agreements are negotiated under Financial Hardship which may reflect on your Credit File for 1 year from the month the arrangement ends if the credit provider participates in Comprehensive Credit Reporting. Financial Hardship information is visible but cannot impact your credit score. Failure to meet the minimum payments on your credit facilities during the preparation and negotiation of the agreement can result in poor repayment history reporting to your credit file. Failure to meet agreed repayments under the Informal Agreement during the administration phase can impact our ability to pay your creditors, and also result in missed repayments being reported on your credit file. Generally, creditors will not default a credit file during preparation or administration of your Informal Agreement, however they do retain the right to do so if deemed appropriate. Should you not meet the terms of the Informal Agreement, your creditors will have the right to recommence recovery proceedings which could to them listing defaults and judgements on your credit file.

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