If your debts greatly exceed your assets and it is extremely unlikely that you will be able to repay your creditors in full, then an agreement can be negotiated with your creditors to write off a substantial portion of your debt.
With a Compromise Agreement it is possible to:
- Only pay back the debts you can afford
- Write off a substantial portion of your debt.
- Prevent or stop legal action - including bankruptcy
- Pay back an agreed, fixed amount each month within a fixed period
- Get protection from your creditors
- Freeze interest and charges (including legal fees)
- Eliminate the stress of dealing with your creditors
Our expert advisers will provide free and confidential advice, talk to you about your circumstances and, providing you are eligible, negotiate a lower, affordable payment based upon what you can realistically afford. We will mediate with your creditors, organise all the paperwork and once the Compromise Agreement is finalised, take care of the ongoing administration for the duration of your Compromise Agreement.