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Debt Mediators Australia

Trust, understanding and freedom are the first three words displayed on the website for Debt Mediators Australia. They very eloquently convey the message this family owned debt services company believes in. Building the trust of their clients, understanding each individual situation and helping their clients work towards a debt free life are integral parts of their offering. Their website is dma.debtmediators.com.au

Founded in 1999, Debt Mediators Australia operates out of Brisbane and provides their services in all states and territories. The 36-strong company strictly enforces a high standard of quality and ensures that all services and transactions are compliant with legal regulations and requirements. The company is part of the DCS Group Aust, one of the country's largest debt administrators.

Debt Mediators understands that no one expects to end up being bankrupt; most people do not even realize that they are on this slippery slope until it is too late. Filing for bankruptcy can have many negative impacts on your future and for this reason Debt Mediator's consultants work to ensure you have alternate options. They can be contacted via a toll free number or online form available on the company website.

Primarily Debt Mediators work on debt agreements. Debt agreements are made between you and your creditors and have many advantages over declaring bankruptcy. In a debt agreement your consultant will work with you to develop a proposal for your creditors detailing what part of the debt you will be able to repay and what part you will not. A payment schedule is also worked out according to your ability to make payments.

This agreement has to be accepted by your creditors. Once accepted the interest on your debts is frozen and you have to deal with only one payment as decided by your payment plan. The fees associated with Debt Mediators services are not mentioned.

To help people who want to explore their options Debt Mediators also provide debt advice on other debt relief options such as debt consolidation and bankruptcy. The website also features a few options which can be exercised by people who find they have a little extra money after all expenses have been accounted for.

Strategies for debt reduction are highlighted such as a high-interest strategy where all extra money is used to pay off high interest loans first. An alternative strategy recommended is snowballing in which the smallest debt is paid of first and the largest last. Numerical examples are given for both to better illustrate the savings possible. Debt Mediators Australia recommends its clients to adopt the snowballing strategy even though it pays slight more interest than the high interest strategy. They cite the reason that seeing the number of debts reduce has a very positive psychological effect which can help counteract the stress caused by debt.

Debt Mediators has been featured in numerous newspaper articles such as:

Sydney Morning Herald
Brisbane Times
Australian Financial Review

They have also been featured on TV programs such as:

60 Minutes
SBS Insight

The website features no graphics and fails to create an uplifting feeling as most other do. Yet sections such as a glossary of financial terms, articles and a blog make it a valuable resource. The blog touches on a number of related topics such as mortgages, bankruptcy regulations, loans and credit card help.

The articles provide insightful information about how credit is calculated and how credit can be repaired in Australia. The details appearing in a credit report are also explained along with instructions on how to obtain your own free credit report.

Before entering into any formal agreement or contract, it is extremely important to do a thorough check of any company's legitimacy and services. All decisions should ultimately be based on personal satisfaction with the company and confidence in them. Failure to do so can result in an unsatisfactory experience.

While the company's website might not greatly inspire or invoke optimism, the fact that Debt Mediators Australia has been featured in a number of publications and shows builds confidence in the company. Their focus on trying to avoid bankruptcy shows their dedication to the long term well being of their clients.

For more information on Debt Consolidation companys, go to Debt Consolidation.

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