SOS Debt Solutions specialises in helping people struggling with debt repayments, no matter your situation. As experienced professionals, we can offer you a range of solutions which thousands of people have successfully used to improve their financial position. By taking the right action now, you can stop the painful cycle of awkward phone calls, intimidation and pressure to repay debts.
Our Debt Management Plan will combine your debts into one, easy-to-manage payment, reducing the stress of having to juggle multiple interest rates, fees and payment dates.
During the DMP process, we negotiate with creditors on your behalf and on your terms – not theirs, so you can reach a fair outcome between all parties.
All calls and harassment from creditors will cease once they recognise we are working with you to find a positive solution to your financial situation.
Our Debt Management Plan is offered Australia-wide. No matter where you are, if you’re struggling we can help reduce your debts and get your finances back on track.
After engaging SOS Debt Solutions, one of our experienced Case Managers will be assigned to collect information for your application from creditors. Once your creditors know you’re on a DMP, all harassing phone calls will stop. The information collected from your creditors will help your Case Manager understand your financial circumstances and create a tailored solution for your individual situation.
In order to qualify for a DMP, all you have to do is be experiencing financial hardship. In other words, you just need to be struggling to meet your creditor repayments as they fall due. There are no restrictions on the amount of debt you owe, value in assets you have or income you earn. These factors only play a role in the type of DMP recommended for your situation as a DMP can be tailored for anyone struggling with debt.
Get in touch with us at SOS Debt Solutions
Our professional team will assess your financial situation
We will provide you with a tailored debt relief solution
When you’re struggling with debt, not feeling in control can cause a huge amount of stress. We’ve designed our Debt Management Plan calculator to help you work out how much you could save when you combine your unsecured debts into a single, easy-to-manage repayment.
0% interest rate while in a Debt Management Plan!
Trying to manage multiple debts can be difficult. Consolidating your debts into a single payment could make it easier to manage.
With our Debt Management Plan, you may be able to reduce your total debt amount by up to 80% and be debt free in 3 years. Pay what is affordable for a set period of time and your creditors will write off the remaining debts.
The below example shows how you could benefit from a DMP.
|Debt: $20,000||Creditors: 3|
|Total amount of debt reduced:||$11,000|
In this example, the DMP client was able to get 55% of their debts written off by creditors, a total of $11,000 at the end of their DMP.
Our clients creditors will need to agree to the DMP, and regular payments will be based on individual circumstances. Credit rating will be affected. Fees will be added to the DMP, but not charged additionally, and are subject to individual circumstances.
At SOS Debt Solutions, we offer a wide range of services to help Australian individuals and businesses in need. We are experts in cutting through the jargon and explaining everything so you’re comfortable with whatever path you choose to take.
We have years of experience helping everyday Australians get out of debt. Our team will assess your financial situation and recommend the best solution, which could be debt consolidation, mortgage refinance, Informal Agreement, Part 9 Debt Agreement or Bankruptcy.
We provide expertise in Business Debt options and can assess the position of your business in order to advise the best step forward. We specialise in Business Turnaround, Voluntary Administration and liquidation.
We are able to negotiate a repayment arrangement or informal debt agreement, which does not have lasting impact on your credit file. We often reduce the overall debt amount by up to 80%.
A Part 9 Debt Agreement is a legal and binding agreement with your creditors. A Debt Agreement outlines a new payment arrangement, which will reduce your debts, pause your interest, reduce your payment amounts and generally last between 3 to 5 years.
The biggest trigger for company liquidations and personal bankruptcies is the Australian Tax Office. We work with you to explore all of your options and assist you in making the right decisions to resolve your tax debts.
If you’re suffering with severe debt, Bankruptcy can help clear your debts, stop creditor harassment and provides you with a fresh start. Our team will consider all other options for your situation before recommending Bankruptcy.