Debt Management FAQs & Resources - Debt Angel Solutions

Frequently Asked Questions

Below are the answers to some frequently asked questions about what Debt Angel Solutions can do for you.

Why choose Debt Angels Solutions?

We remove the isolation associated with debt distress.

We support you, creating space between you and your creditors, allowing you the time and space you need to breathe and truly assess your financial situation.

Our approach is unique and highly personalised.

We support you emotionally, negotiate on your behalf and give you the education and information you need to empower you to take back control of your financial situation and reset your life.

Will the creditors stop calling me?

Yes.

As your authorised representative your creditors will call us instead of you. Once we have onboarded you as a client, we will ask you to sign a Letter of Authority.

The Letter of Authority assigns Debt Angel Solutions to be the point of contact for your creditors moving forward.

We will then continue to manage the communication process and talk to your creditors on your behalf.

You may still receive written correspondence and statements from your creditors as you are still legally their client, however, if they do call you, simply direct them to us or let us know, and we’ll take care of it for you.

What if I don’t have any money?

Our initial Consult Call is free, and we are happy to have a conversation with anyone about their situation without any obligation.

During the Consult Call, we assess your situation and together, see if our services are right for you. We do the maths and weigh up your situation vs the fees involved in working with us.

Its important to note, we will not take you on as a client if the cost of using our services is more than we are able to save you. In these cases, we discuss which alternative options may be available and guide you towards them.

How do I know if Debt Angel Solutions is a good fit for me and my situation?

During your FREE Consult Call, together we will discuss your individual situation and help you ascertain if our service is right for you.

We have 4 pre-requisites before taking on a new client…

Debt Angel Solutions needs to be able to guarantee that we can save you more than we cost you.
Clients must be coachable. Be willing to act on and listen to Debt Angel Solutions’ advice. All advice is given with a view to assist the clients to transform their situation.
Clients must promise to be in / stay in communication to enable Debt Angel Solutions to do their job.
Clients must be committed to achieve the outcome asap

We suggest you don’t just take our word for it and have a read of our testimonials and case studies and see what other people who have been through similar experiences and become clients of Debt Angel Solutions have to say about us and our service.

What if my personal situation changes while my accounts are under management?

We require you to let us know as soon as there are any relevant changes to your circumstances, both financial and personal.

We will handle this information accordingly and appropriately.

We will update your creditors as required as part of the account management service we provide.

We are on this journey with you and understand life can change in an instant.

We are all about being in communication and finding solutions to your current situation.

Is it legal for creditors and debt collectors to track me down via social media or through friends and family?

Rightly or wrongly, creditors and debt collectors who do this are not stepping outside the law.

If you are out of communication with them, they are within their rights to use this avenue (and a variety of others) to attempt to contact you.

Yes, they will likely contact family and friends in an attempt to contact you! However, they are legally not permitted to reveal details of your debt to a third party.

For more information on how debt collectors work, visit the Australian government/ASIC website Moneysmart at:
https://www.moneysmart.gov.au/managing-your-money/managing-debts/dealing-with-debt-collectors

How does Debt Angel Solutions work and how can they help me?

Our years of extensive experience and expertise in working with creditors means that we can design a unique “Get Out of Debt” strategy and negotiate the best possible outcomes based on your personal situation, giving you freedom from debt distress and the associated financial pressure.

Our free no-obligation Consult Call assesses your situation, and we discuss a customised plan known as our “Get Out of Debt” strategy, uniquely designed to help you break free from debt once and for all.

If you decide to use our service, you are onboarded as our client and we begin to develop your personalised “Get Out of Debt” strategy. We take on the management of your debts and become the point of contact for your creditors, giving you room to breathe and the space you need to truly focus on your financial situation and your options moving forward.

We then work with you to develop strategies to take back control and reset your life and work towards creating a brighter future.

How will working with Debt Angel Solutions affect my credit rating?

Use of our service will not appear on your credit history, unlike a default or bankruptcy.

We will work with you to ensure everything possible is done to protect your credit rating. However, we cannot guarantee how your credit score and your repayment history information will be affected by your payment history.

Please note that legislation is in place making it compulsory for licensed credit companies to report payment activity, and late payments over 60 days past the due date will show up on your credit report.

We highly recommend you obtain a copy of your credit history and score asap. You are entitled to request one per year for free.
You can get your free copy via the following link:
https://www.equifax.com.au/personal/products/my-credit-file.

If your credit rating has already been impacted before coming to us we will work with you to understand any possible implications and what can be done about them.

Should I consider a “Part IX debt agreement”, “formal debt agreements” or “going bankrupt”?

In our opinion, insolvency through Debt Agreements including Part IX or Part X Debt Agreements and/or Bankruptcy is a last resort. In saying that, sometimes this pathway is the right choice. We highly recommend you exhaust all other avenues available to you before committing to such drastic action! Please feel free to use our FREE no-obligation Consult Call call to discuss if other options are available to you.

We invite you to consider the consequences of choosing bankruptcy or an act of bankruptcy as there are serious and long-lasting implications. There are often high costs involved with any type of bankruptcy, and usually Debt Agreements typically require large up-front payments. Usually, the timeframes involved range from 3 – 5 years (of being bankrupt). It’s a long time to wait to move on with your life, to maybe buy a home, a car or even to access services like phone and electricity accounts.

Being “bankrupt” and going through insolvency feels like a heavy weight on your shoulders and often keeps people in a negative “I’m bankrupt” frame of mind. Bankruptcy can affect your mental health and general wellbeing, not to mention your financial future. There could be another way available to you. For more information, please contact us for a free no-obligation Consult Call so that we can assess your individual financial situation and discuss how we can help.

What am I responsible for when Debt Angel Solutions are managing my accounts and what does Debt Angel Solutions expect from its clients?

Participation, commitment, and communication.

We work very closely with our clients, and we ask for a commitment to allow us to coach them, honesty and timely communication. In turn, you can expect the same from us.

We need you to stay in contact with us and provide us with the information we need, so that we can work effectively on your behalf. We will request documentation and information at various stages of the process. Put simply, if you are not in communication with us, we can’t do our job.

This process also works best when you are open to listening and learning from our expertise and experience.

Our Debt Angels work purposefully with a commitment to work with you to transform your situation throughout the process of your “Get Out of Debt” strategy and we expect the same commitment from our clients. Working with us, being open to coaching and applying it to your life, guarantees the best possible results for you.

I have a joint account with my partner, what happens here?

We obtain authority from you and / or your partner to act on behalf of your joint accounts if required.

We can discuss your individual circumstances to give you clarity around who is automatically responsible for the debt.

Sometimes an extra card issued on a credit card account doesn’t necessarily mean that the secondary cardholder is responsible for the debt.

Each situation is assessed and managed accordingly.

Resources

Our financial situation can and does have a drastic impact on our mental health and well-being. Which in turn can play out in many forms such as illness, disease, depression, anxiety, addiction, paralysis by analysis…

Everyone is different, we all seek refuge from financial pressure in different ways.

Some turn to drugs and alcohol, while others turn to gambling or pornography. Others use retail therapy or watch mind-numbing TV or spend days scrolling the internet and playing mindless games on their phone to numb themselves from their reality. These kinds of avoidance tactics can and do go on for years non-intentionally, simply because people don’t know what to do or how to transform their situation.

We have listed some resources you might like to consider contacting, should you be concerned about your state of mind or that of someone you love, or you are looking for additional assistance.

Should you wish to discuss what solutions, we see possible for you and your individual situation, you can always book a FREE Consult Call with one of our Angels.

Alternatively, we encourage you to reach out to one of our trusted resources below that you feel might be able to be of assistance to you in your time of need.

Mental Health

Government

There is so much information regarding finances on the internet that it can be hard to figure out what to believe, especially when your head is scrambled with the stress and pressure of it all. Government websites often have the most up to date and trustworthy information regarding consumer finance. The government also offer free helplines if you want to discuss your individual financial situation.

Relationships

Problems with your finances can have a HUGE impact on your relationships, and in turn relationship issues can and often do have unexpected and all-consuming consequences on your financial situation, sometimes leaving people stranded in relationships that don’t serve them. If you’re struggling with your finances as a result of relationship issues or feel trapped in a relationship as a result of being in debt, financial abuse and or domestic violence, here are some awesome services that are there to help.

Trusted Partners

Getting your finances in order can seem daunting, especially when you don’t know what you are doing and are feeling ashamed, guilty, or embarrassed and don’t know who to trust.

At Debt Angel Solutions, we believe that getting your finances on track isn’t just about managing your day-to-day expenses or paying down your debts. if you are not on top of your tax, mindset, addictions, budgeting and expenditure or future planning etc then reaching your goal will be much harder to accomplish.

Over the years, we have met several experts in their fields, we have a personal relationship with everyone we have listed below and know they operate in line with how we do at Debt Angel Solutions. Coaching and guiding, in the direction of what is best for the client.

As such we would like to introduce you to our trusted partners who we know and trust to handle you and your situation with care, authenticity, and integrity.

NB: It is important to note, we receive NO financial renumeration from any of these people or companies.

Div-ide – Financial Separation Services | Website
Beanstalk Mums (Single Mums Resources and Support) | Website

External Dispute Resolution

Going up against the banks, if you feel wrongly done by, alone is tough, especially if you feel they have made a mistake, and they don’t agree. We’ve listed below some consumer advocate services who you can contact to raise a complaint or dispute decisions you feel are incorrect.

Stand Up For Your Rights

During the Royal Commission into Banking, it was found that some banks and lenders were seen to take advantage of consumers by including unnecessary add-ons and services to loans which have since been deemed of poor value to consumers. From the outcome of recent judgements made in the courts, you can now claim a refund for many of these unnecessary services or add-ons. Click the link below to find out if you are eligible or check out the know your rights website.

Demand A Refund | Website
Fair Work Australia| Website

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