Debt Fix's adheres to policies and procedures that it believes are socially and financially responsible for its client's. For this reason we developed our own in-house policy we proudly call the ‘No Fix, No Pay' policy. Debt Fix offers many financial services and products and as such we need to specify that our ‘No Fix, No Pay' policy relates to our debt agreement product, also known as a ‘Part IX Debt Agreement'. As with all refund policies there are some conditions and we are happy to explain them here:
The ‘No Fix, No Pay' applies to any monies debited from you (our client), by Debt Fix Pty Ltd or its authorised agents that relate to any application fee.
This fee is charged prior to your debt agreement's commencement (as specified in the Debt Agreement Proposal and other documentation). Beyond the date your debt agreement has been accepted for processing by AFSA (at which point your details are recorded on the NPII) and prior to the proposed start date of your debt agreement contributions, any residual application fee is voluntry in the case where a residual amount remains unpaid. Naturally, in the event that your debt agreement proposal is accepted by a majority in value of your (provable and unsecured) creditors, any application fee due but not paid at the point in time the administration is scheduled to commence will be accounted for in the same way as your other provable and unsecured creditors and per the terms specified in the proposal.
If your creditors elect to reject your debt agreement proposal, and this sometimes happens, we will find out why they rejected it and then resubmit the proposal with your permission. It is very rare for a debt agreement proposal to be rejected on the first occasion and even rarer still on the second. Each consecutive new application / drafting of documentation will attract a new fee and any residual (unpaid) fee from the first, rejected proposal will be written off, less any payments made to date
If you decide that you don't want to try again after the first or subsequent attempts, we reserve the right not to refund your fees. Please keep in mind it may take several attempts to get your proposal up and running
If for some reason you decide you want to withdraw from the process altogether before the end of the voting period a refund will not be possible as we still have to cover our basic costs.
If the Government has charged a fee to process your debt agreement, Debt Fix will pay this on your behalf. You agree that this amount will not be refunded and any application of the “No Fix, No Pay” Policy is exclusive of any government fee, tax or levy.
Once your arrangement is approved and running there is no longer a need for our ‘No Fix, No Pay' Policy as we have done what we promised to do.
It is very rare for Debt Fix to not get a debt agreement up and running (over 98% of the Debt Agreements we submit get up and running)
Those Agreements that are not accepted are usually for reasons beyond Debt Fix's control and mostly due to reasons such as the client forgetting to tell us something important. Examples of something important might be that you own a half share in a house worth a lot of money and this share means that you have too many assets for a debt agreement. or if you forget to tell us something really important and it stops the debt agreement running, an example being you have not done your tax and a lodgement is due, (and the ATO reject your application on these grounds) a refund will not be possible, as we still have to cover our costs. Furthermore if you had previously been bankrupt in the last ten years and failed to disclose this fact when we assessed your suitability, a refund will not be possible.
Notwithstanding you making accurate disclosures and no material or significant omissions, if we are unable to help you make a debt agreement (no matter how many times we attempt) then we will refund everything you have paid to us less any government lodgement charge, fee or levy we have previously paid or undertaken to pay on your behalf.
We believe this is a fair policy. The policy exists because, unlike some other companies that do not have a refund policy or will charge you a non-refundable application fee, Debt Fix feels you shouldn't be disadvantaged after speaking to us - especially in light of the fact that you are looking for financial assistance. If you read this policy and are still unclear or just want to ask a question please call us on 1300 332834 or email firstname.lastname@example.org