Tell the debt collector if you are in financial hardship Only offer to pay monthly. This means that you have a whole month to save the money required for the repayment If the creditor agrees, ask them to confirm the agreement in writing Confirm any verbal agreement by writing to the creditor yourself (make sure you keep a copy of this letter). The process to make a repayment arrangement is: Start making repayments of an amount you can afford If you cannot afford to make any repayments or a repayment that will repay the debt in a reasonable time get advice. If the debt collector wont agree to a repayment arrangement: If the debt collector is in EDR then lodge in EDR. This will stop all further action until the dispute is resolved. The dispute is that the debt collector will not grant a reasonable request for a repayment arrangement. (i) If the credit law applies (see Fact Sheet: Does the Credit Law apply?) then you can apply for a variation of the contract on the grounds of financial hardship (see Fact Sheet: Financial Hardship ) and the EDR can make a determination that a repayment arrangement should be granted. (ii) If the credit law does not apply the EDR can review the decision of the debt collector but cannot make a Finding. It still helps to go to EDR because this gives you a chance to negotiate with debt collector. (iii) If the debt collector is not in EDR