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Personal Insolvency Options

How to get out of debt

If you are feeling out of control with your personal finances it can be stressful and downright scary. However, it doesn’t mean you can’t take action you to regain financial independence and stability.

  • Are you unable to pay your mortgage?
  • Do you have credit card debts you are unable to pay or are only paying minimum interest repayments on?
  • Is your weekly income not enough to meet your day to day living expenses?

If you’ve said yes to any of the above, you should speak with our independent experts to assess the extent of your financial situation.

There are a number of personal insolvency solutions available including formal or informal debt negotiations and agreements, budgeting and money management advice or even declaring bankruptcy.

ReVIVE has been helping people like you get back on their feet while keeping your personal interests as the top priority. Speak to a qualified expert today to go over your personal insolvency options and see how we can make your personal insolvency more manageable.

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Video: 4 Ways to Get Rid of Your Debt

Your Personal Insolvency Options

Part 9 Debt Agreement

If you don’t need to declare total bankruptcy but cannot see yourself affording to pay your full debt, you may be able to come to formal debt agreements with your creditor. This means arranging a formal, legally binding agreement to pay an amount you can afford while freezing future interest and fees.

Informal Debt Negotiation

Informal debt negotiations are a good option if your financial hardship is only temporary. If you are struggling to pay your credit card bills or mortgage due to a loss of income or relationship breakdown, an informal arrangement may be a good temporary solution.

File for Bankruptcy

Bankruptcy is the formal process of clearing your debts from all creditors. It provides a fresh start for people who are in a dire financial situation. There are regulations and restrictions associated with bankruptcy which may impact your lifestyle. But for those in need, Bankruptcy is sometimes the best, and only option.

The Debt Situation in Australia

Being in debt is stressful and isolating. It can have a negative impact on your life and affect your relationships, your family, your career and even your health. No one likes to talk about debt, so it is often something we struggle with alone.

But, according to recent studies, 7 out of 10 Australians have admitted to being in financial stress at least once in their lives. It is a common problem, but it is one noone wants to talk about.

How ReVIVE Financial Can Help

That is why ReVIVE Financial exists. We want to Revive your financial life and in turn, realign all aspects of your life. We offer a number of debt relief solution in order to help you get back on financial track.

Our experienced ReVIVE Financial Specialists will help you find a debt relief solution that fits you. Whether you own property, run a small business, are a sole trader or just hit some hard times – we have a solution to help.

ReVIVE Financial can help you out of debt

“After my divorce and losing my job, I struggled to make the repayments on the debts which I could easily afford before my life changed. I was stressed and worried and had no idea where to start or how to fix my problem. I had been trying to make arrangments with my creditors to pay off my debt, but I was still struggling and my creditors were running out of patience. I found ReVIVE Financial and they helped me to get my life back. I wanted to thank all the staff for their understanding. I never felt judged or embarrassed. They have been so amazing to support me through this problem and help me find a way out.”

Location: Brisbane, Queensland

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