What you'll do
- Understand what a payment arrangement is
- Know what to consider before proposing one
- Follow the steps to set up a plan
- Keep a plan on track to completion
- Know what to do if your circumstances change
6 min
What a payment plan is
A payment arrangement is a plan to pay an amount over time in instalments that suit your circumstances. If paying in full is not possible right now, a plan is often the simplest way to resolve an account. The ACCC and ASIC debt collection guideline encourages flexible, sustainable arrangements.
Setting up a plan
Work through these steps to propose and start a plan.
- Work out what you can afford. Look at your situation and decide on a realistic instalment amount and frequency.
- Propose it. Tell us your proposed amount and how often you can pay, quoting your reference number.
- Review. We review every reasonable proposal fairly and confirm what is agreed.
- Get it in writing. Ask for written confirmation of the agreed instalments and dates.
- Make your payments. Keep to the agreed instalments until the balance is cleared.
If things change
If your circumstances change during a plan, tell us early rather than missing a payment in silence. Being open helps us consider an adjustment. You can talk it through any time via our contact page, and free advice is available from the National Debt Helpline on 1800 007 007.
Good to know
- A payment plan lets you resolve an account over time in instalments
- We review every reasonable proposal fairly
- Tell us early if your circumstances change during a plan
FAQ
How do I set up a payment plan?
Propose an instalment amount and frequency you can afford, quoting your reference number. We review every reasonable proposal fairly.
What if I miss an instalment?
Tell us as soon as you can rather than going silent. Being open lets us consider adjusting the plan to suit your situation.
Can I get help deciding what I can afford?
Yes. The National Debt Helpline on 1800 007 007 offers free, confidential financial counselling to help you plan.
Still not sure? Our team is happy to talk it through.