Understanding your debt agreement

Once creditors have submitted their votes, you’ll receive written notice of the voting outcome. If you’re not sure what the outcome is, contact your debt agreement administrator.

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My debt agreement was accepted – what happens now?

Once your creditors accept your debt agreement, you and your creditors are bound by the terms of that agreement. This means:

  • You make payments directly to your debt agreement administrator.
  • Your debt agreement administrator manages your payments to creditors.
  • Your unsecured creditors can no longer contact you about the debts that you've included in the agreement.
  • If creditors are still contacting you about a debt, advise them of your AFSA administration number and start date.
  • Creditors are no longer able to add any interest to the debts.
  • Creditors are still able to repossess secured goods (e.g. house or car) if you can’t keeping making repayments.

For more information see: Consequences of a debt agreement?

For further details about your debt agreement, contact your debt agreement administrator.

When does my agreement end?

The length of a debt agreement depends on what is agreed with the creditors. Usually they can go for up to three years. In some circumstances they can go for longer.

Your debt agreement ends when all the actions outlined in the agreement are complete. This includes you making all the required repayments, and the administrator paying out all the funds. 

To find out your expected end date, contact your debt agreement administrator.

How to provide feedback about your debt agreement administrator

You can complain or provide feedback if you have concerns about an action taken by your debt agreement administrator. This includes those who provided assistance in setting up your debt agreement.

For more information see: Resolving complaints.

Can I change administrator?

Yes, although you may need to pay additional fees.

If you would like to change administrator, we suggest you talk to other administrators about what they can offer you.