YDA INFORMAL AGREEMENT
YDA Informal Agreement
A YDA Informal Agreement is an agreement between you and your creditors to change the terms on your existing debt contracts.
This is a way to get out of debt without the consequences of a Part 9 Debt Agreement or Bankruptcy.
Benefits Of YDA Informal Agreement -
Won't Impact Credit File - A informal agreement won't impact your credit file as it will be negotiated privately and isn't legislated by the bankruptcy act. This is still a legally binding contract that is in place between you and your creditors that must follow.
It Doesn't Have Limiting Criteria - Part 9 Agreements limit high income, equity in property or excessive debt and other factors which can exclude your from a part 9 Agreement. The YDA Informal Agreement could be the secret weapon to combating your debts.
Not Written Into The Bankruptcy Act - The YDA Informal Agreement is not written into the National Personal Insolvency Index. This won't impact employment and is not a type on bankruptcy.
To Check If Your Eligible For A YDA Informal Agreement Filling Out The Debt Analysis Form Below Will Help Give Us A Clearer Understanding Of Your Situation.