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Getting Back On Financial Track With Debt Mediation

10 January 2022

Getting Back On Financial Track With Debt Mediation

Okay, so you’ve heard of the term, “Debt Mediation” but don’t have a clear understanding on what it actually is. That’s okay let’s run through it.
So, you have a large debt or a number of debts. Your financial situation isn’t the best and you are having trouble paying down or off those debts. Instead of filing for bankruptcy (which isn’t ideal), you can employ the services of a professional debt mediator – someone who works on your behalf to negotiate down your debts. – Sounds great doesn’t it.

Why would my creditors agree to reducing my debt?

An experienced debt mediator is an independent third party, which can explain and provide to your creditors that you are having financial hardships which is holding you back from paying off your debts. Now, most people and businesses don’t want to financially destroy people and families, so the mediator can negotiate down your debts, especially if you can pay them out with a lump sum money or within an informal agreement. It’s better for the business to have more money in their account now then it is in 6-months.

As everyone’s situation is different, the amount negotiated down will vary between you and the next person.

Can’t I do this myself?

Some people may, but you only really have once chance to negotiate down a debt, so it’s ideal to have a someone who is a specialist in this field do it for you. Sure, there will be a fee for their service, but it’s better than having a constant debt over your head or having to file for bankruptcy.
What about your credit score I hear you ask?
Well, depending on who you use, your credit score status shouldn’t change. In fact, when seeking out a debt mediator, ask them the question if they can negotiate to have your credit score updated to indicate that you have paid your debt in full.

Where do I find a Debt Mediator?

You can always Google it. However, within the Panthera Finance Group, we have a team who are specialists in Debt mediation at United Debt Assist. In fact, if you are a pre-existing customer of Panthera Finance, you may be entitled to a 50%* discount on your management fee.

Complete the online enquiry below for a free financial health-check.

Or Call to speak to one of our Specialists on (07) 3726 0102.

* The 50% discount only applies to existing customers of Panthera Finance.  When you speak to our specialist, be sure to enquiry if you are eligible.

Untied Debt Assist

Getting Back On Financial Track With Debt Mediation

United Debt Assist