COVID-19 – Existing Clients
COVID-19/Coronavirus – How it’s affecting you, and how we can help.
A Debt Agreement is a legal agreement with your creditors, based on a schedule of payments. We cannot alter the agreement without taking it back to creditors. We do have some flexibility to assist you, and still have you complete your agreement.
If your income has been affected we can assist you. We will require a letter from your employer or a medical certificate from your doctor stating what your situation is (i.e. sickness, losing employment or being temporarily stood down.) Your agreement with your creditors is not a loan and is required to be completed on time.
We can temporarily stop payments, but these payments would need to be made up at a later date by either increasing your payments or extending the term of your agreement.
A variation can be done at a later date when the crisis is over and we know what is affordable for you. This may be to extend the term if you can’t afford increased payments. To do this we need documentary evidence that this was as a result of extenuating circumstances (i.e. a letter from your employer.) Your creditors would still need to vote to accept this variation to your agreement.
We have recently received a high number of enquiries. If you have had your income affected by the crisis, and need immediate assistance, please call our Client Support team on 1300 883 758 or email email@example.com attaching your employer’s letter or medical certificate.
What can DCS Group do now to assist you?
We can stop up to one month’s payments, at that time we will review your situation. We will be required to report to your creditors, however, we will advise them that you have been affected by COVID-19 and that we are monitoring your situation.