Debt Negotiation

Many Australians are finding themselves struggling with debt however there are various solutions available, including debt negotiation or consolidating your debt.

If you are in debt or experiencing trouble with creditors, including the Australian Tax Office, you are not alone and Select can negotiate with them in an attempt to remove or reduce your debt.  We’ve helped many of our clients get back on their feet with our debt negotiation services.

Debt can be extremely stressful, especially if you owe money to several different lenders, and are struggling to keep up with monthly repayments.  Unforeseeable circumstances can cause you to fall behind on your debt resulting in mounting charges and interest and you are going to need a debt solution to regain control of your finances.  We can help you.

At Select, we care about the financial problems we solve and our team is dedicated to finding the perfect solution for your unique circumstances. So should we be unsuccessful in obtaining a reduction or solution for you, there is no charge, NO SUCCESS - NO FEE

Debt negotiation is NOT a formal debt agreement or act of bankruptcy and will not be noted on your credit file or have an adverse effect on your credit score.

At Select we are unique in that we have no upfront costs.  We charge a percentage of the total amount SAVED and if we are unsuccessful, there is no charge, NO SUCCESS - NO FEE.

What is Debt Negotiation?

Debt negotiation is a negotiation performed by Select Debt Negotiators on your behalf with your creditors to reach a mutually beneficial arrangement in reducing your level of debt.

With signed authorisation for Select to act on your behalf with your creditors, the never ending phone calls will stop, as we will be the point of contact.  Our aim is to relieve you of your financial burden.

Debt Negotiation happens in three steps:

    1. We inform your creditors that Select is now your credit representative and that they are to speak with us regarding any demands for payment or collection action. We deal directly with all creditors and put together a tailored settlement proposal, taking your individual situation into account.  You will not be hassled anymore.

    2. We negotiate the debt amount and terms to pay back your creditors.
      Whether it’s a single debt settlement payout or a weekly, fortnightly or monthly payment, we’ll help you put together a customised payout plan.

    3. You begin paying the settlement on your terms.
      Once your creditors have accepted your new payment plan, including the total payment and duration, you’ll begin to make payments and gain back control over your financial future.

Do you have any of the following debts? We can help

  • Mortgage/s

  • Credit Card/s

  • Personal Loans

  • Collection Agencies

  • Car Loans/Hire Purchase/Vehicle Lease/Finance

  • Personal and Business Tax

  • Utilities

  • Accountancy Debt

  • Family Debt

  • Overdue Private School Fees

  • Business Debt

Benefits of Debt Negotiation:

  • Reduction in monthly repayments

  • No more debt collection phone calls

  • Realistic and manageable payments plan

  • Avoid entering into a debt agreement or declaring bankruptcy

  • Avoid defaults and judgements on your credit file

  • Have defaults or judgements noted as Settled or removed from your credit file

  • The opportunity to regain control of your finances

Call us for a confidential discussion today, we are waiting to help you


Debt Consolidation

If you have multiple debts either from the same or various financial institutions, including mortgage, credit cards, personal loans or any other unsecured debt, you may wish to consider refinancing to consolidate the debt into one repayment.

Am I eligible for a Debt Consolidation Loan?

To be eligible for a Debt Consolidation Loan, you must own either a Residential or Commercial property.

We have both bank and non-bank lenders on our Panel that will consider unlimited debt consolidation up to 90% LVR (Loan to Value Ratio) in metropolitan and high population cities or major regional towns, with lower LVR’s in smaller populated areas.

If you have defaults or negative listings on your credit file, Low Doc Debt Consolidation Loans are still available, even for the Self Employed with clean or impaired credit.

Loc Doc loans are designed for those who may not have access to the financial statements and tax returns usually required when applying for a loan.

As we have one of the largest ranges of lenders, we give advice based on what is best for your situation rather than pushing specific loan products and can tap into current promotions and special offers.

Select provide complete disclosure of any fees and commissions that you may be liable for or that your Broker is paid directly from the lender.  

Benefits of Debt Consolidation:

  • Only one loan to manage

  • Save on loan fees

  • Reduction in monthly repayments

  • Avoid defaults and judgements on your credit file

  • Avoid entering into a debt agreement or declaring bankruptcy

  • No more debt collection agency phone calls

  • The opportunity to regain control of your finances


Our highly experienced team are experts at negotiating debt agreements with your creditors, and providing consolidation loans that help you to make more affordable repayments.

With a debt agreement or loan and with proper financial management and planning, you really do have the opportunity to live a life free from debt and worry. You don’t have to let debt or bad credit ruin your future, we can help. Servicing Australia wide.


Judgement and Default Removal

Approximately 1 in 10 Australians have a black mark against their credit rating. If this is you, you are not alone, so don't let that stop you. 

Here at Select Financial Services we can assist to repair your credit rating by getting judgements and defaults settled, and sometimes removed entirely, from your credit file.  This is particularly helpful prior to submitting any loan applications so that you are not declined on the basis of bad credit reports.

We will get a copy of your credit report, discuss and evaluate your situation and then provide you with options that will tidy up your credit file and help you get approved.


Examples of Success Stories

The self-employed applicants were referred to Select via a broker network and they were looking to consolidate debt.  The bank had issued a foreclosure notice  on their home and the clients had credit card debt of $200,000 and an ATO debt of $380,000.  The maximum amount the clients could borrow was $1,020,000 being 85% LVR with a non-conforming lender on a property valued at $1,200,000.  The total debt to be refinanced was $1,130,000 hence the loan was declined.  SFS negotiated the credit card debt of $200,000 down to $120,000 and the ATO debt of $300,000 down to $215,000, remitting penalties and interest.  This resulted in a total reduction of $165,000 for the client.  The loan was then resubmitted to the lender and was approved, saving the clients home and potential bankruptcy.


The client was an elderly gentleman who closed his business due to illness several years previously. He had an ATO debt which dated back quite a few years and the ATO were starting enforcement proceedings. SFS negotiated with the ATO and received interest and penalty remission of over $25,000 and organised finance for the client to clear his remaining debt.


These clients had over 20 credit cards, 3 personal loans and a mortgage and were trying to refinance to consolidate the debt.  We were contacted by the Broker to assist in reducing the unsecured debt. Failure to get the debt reduced to the loan amount would have resulted in bankruptcy, as the female applicant had had health issues which did not enable them to get back on top of their finances.  SFS negotiations with creditors seen the debt reduce from $533,000 to  $404,000 which enabled them to refinance and avoid bankruptcy.


The client was a young, recently divorced male.  As a result of the marital breakdown, the client had to sell his house and payout his ex-partner’s share of his business equity.  The client accumulated $50,000 in credit card debt which went into collections and had judgements issued.  SFS negotiated the debt down to $20,000, had the judgements noted as settled, and organised finance on the client’s behalf to purchase a new home with the deposit for this property provided as a gift from family members.


The client was employed in sales and through a prolonged illness, was unable to work.  As a result, she accumulated $60,000 in credit card debt and $15,000 in pay day loans.  Thankfully her health improved and she was able to get back into the work force but found the cards, payday loans and mortgage default, unmanageable.  Because of the amount of money owed, she was unable to obtain finance for debt consolidation.  SFS negotiated the debt of $75,000 down to $45,000 enabling finance to proceed.  As a result, the clients debts were consolidated down to a single, more manageable payment with a saving of approx. $500 per month.



  • We will take the time to learn about your particular circumstances and inform you of your options and answer any questions you have.

  • We will always interact with you with compassion, dignity, empathy and understanding.

  • Should we be acting on your behalf through a Broker, we will always keep them updated on progress.

  • Our Debt Negotiators will contact your creditors directly and inform them we are acting on your behalf and that all further calls and correspondence are to be directed to our company during this time.

  • Should there be any legal action under way we will work with the credit provider to put this action on hold until we resolve the matter.

  • We will co-ordinate the entire process with lenders, your creditors and any Solicitors that may be involved and keep you informed every step of the way.

  • Our commitment is to provide a full service that alleviates the stress and we will make ourselves accessible to help you navigate this difficult period of your life so that you can regain control of your finances.