Pay-In-One*
The smart way to combine, manage and repay your debts!
Pay-In-One has helped people just like you to:
Combine debts into one affordable repayment
Stop interest and penalty fees
Protect your credit score
Avoid bankruptcy
All with NO upfront costs, fees or charges.
*To be eligible – you need to work and earn $700+/week
How does it work?
We work with you and your creditors to develop an affordable payment plan for all your outstanding debts. We deal with Australia’s banks, finance companies and major creditors every single day to negotiate affordable solutions for clients who want to repay their debts. To see if Pay-In-One is right for you – apply today.
What debts can be included?
Personal loans, payday loans, credit card or store card debts, old phone or utility bills, and even debts to friends and family are commonly included in a Pay-In-One program. If you have secured debts, such as a car loan or a home loan, we’ll discuss whether it’s best to include these or continue paying them directly. Either way, all debts you have will be factored into your budget, so your Pay-In-One is affordable for you.
What does it cost?
You will not be charged anything upfront or outside your Pay-In-One program, as our fees are deducted from your one regular payment. Rest assured, from your very first payment, the funds will be applied towards all your debts, which include our professional fees for setting up and managing your Pay-In-One program.
Will this affect my credit rating?
Pay-In-One is NOT a Part IX Debt Agreement and does NOT fall under the Bankruptcy Act, so you will not have a bankruptcy listed on your credit report. If you enter a Pay-In-One program, most creditors will list this under a financial hardship arrangement, so provided you continue to meet your repayments, you will protect your credit file from further negative listings.
What other options are there for me?
Pay In One is an Informal Debt Agreement. It is not a loan or a Part IX Debt Agreement.
However, Safe Debt Management is also a Finance Broker (Licensed Credit Assistance Provider) and a registered Debt Agreement Administrator, so rest assured, we will discuss and help you consider a range of options to make the most suitable decision regarding how to manage your situation.
Who is eligible for an Informal Debt Agreement?
There are no eligibility criteria for an informal debt agreement, so anyone is eligible for assistance. Generally, an informal debt agreement is not considered as serious as a Part IX debt agreement. It is often a step that someone tries before considering formal options, such as a Part IX debt agreement or bankruptcy.
How does an Informal Debt Agreement work?
- An informal debt agreement proposal is prepared according to what you can afford to repay.
- The proposal is sent to your creditors for feedback.
- We negotiate with your creditors to secure their acceptance of your offer.
- You then make regular payments into our informal trust account, and we pay your creditors on your behalf each month.
What are the pros and cons of an Informal Debt Agreement?
- More flexibility than a Part IX debt agreement.
- Protects your credit score by listing a temporary financial hardship.
- Faster turnaround time.
- Depending on the level of debt, it can be a cheaper option.
- Anyone is eligible.
- In most cases, your debts will be frozen.
- Not normally binding on your creditors.
Stop juggling multiple debts and Pay-In-One!
Pay-In-One is a registered business name and product of Safe Debt Management Pty Ltd. Terms and conditions apply.
