Financial First Aid free financial counselling money story. There is a subtle but very important difference between a debt waiver and a debt write off and it is important to know the difference to avoid financial pain. At Financial First Aid, we are helping clients all the time who need forgiveness for debts when facing […]
Categories: Loans / Debts / Credit, Make Sense of Money, Real Stories
If you have a debt and can’t pay it, you can access a financial counsellor from Better Place Australia to go into mediation for you. This is a free service if you live in one of the many funded areas in Melbourne and Geelong. The outcome could be a debt write off or a debt […]
Categories: Can’t Pay the Bills, Loans / Debts / Credit, Money Topics, Unemployment
George’s story: Like the proverbial frog sitting in a pot of water slowly heating up, completely unaware of his doom, George (58), gradually fell further and further behind with his finances. He had spent years struggling just to keep up paying for the basics of life and slowly fell behind to a point where everything he […]
Categories: Can't Pay the Bills, Can’t Pay the Bills, Loans / Debts / Credit, Loans / Debts / Credit, Money Topics, Real Stories, Urgent Financial Help
A lot of people use credit cards to buy goods online or for everyday purchases, but if you cannot afford to pay off your credit card in full at the end of the month, you will be paying a high interest on your purchases, which can add up over time. Paying just the minimum monthly […]
Categories: Can't Pay the Bills, Legal Threats, Loans / Debts / Credit, Unemployment, Urgent Financial Help
Debt Collectors are permitted to contact you in various ways: phone, email, letter, in person, and even via social media, but there are limits to the frequency and times they can contact you. Face to face visits are usually only required if you have not responded to other contact, or if negotiation or repayments were […]
Categories: Factsheets, Make Sense of Money
Debt Agreements, also known as ‘Part IX Debt Agreements’, may be advertised as a solution to your debt problems or a way to avoid Bankruptcy, BUT, they can cost you thousands of dollars in fees and still result in a bankruptcy. If you are already deep in debt, any solution that costs you more money […]
Categories: Factsheets, Make Sense of Money
Debt collection agencies try to recover unpaid bills or loan payments on behalf of credit or service providers. Information about your rights regarding debt collectors can be found here. Sometimes the debt may be quite old or outsourced to an unfamiliar company, so it’s important to clarify exactly what the account relates to and that it […]
Categories: Can't Pay the Bills, Legal Threats, Loans / Debts / Credit, Unemployment, Urgent Financial Help
One of the top 10 stresses being experienced by Victorians is rental stress. Finding suitable ways to beat rental stress, is not easy. With high interest rates and soaring cost of living, investors are forced to increase rent to cover their mortgage. This can cause tenants to experience increased stress and anxiety, which are harmful […]
Categories: Build Your Capability, Can’t Pay the Bills, Loans / Debts / Credit, Make Sense of Money, Money Topics, Uncategorised
One of the top 10 stresses being experienced by Australians is mortgage stress. With soaring house prices, high interest rates and high cost of living, many homeowners are being overwhelmed with debt and are finding it difficult repaying their home loan. A report by Roy Morgan, says that in 2023, “over 1.5 million mortgage holders […]
Categories: Build Your Capability, Can’t Pay the Bills, Loans / Debts / Credit, Make Sense of Money, Money Topics, Real Stories
One of the top 10 dilemmas for Australians is finding a way to beat mortgage stress. One source says, “There is a fast-rising number of households falling deeper into debt, and it is set to get worse. [At one of the big banks], the value of loans which are now more than 90 days behind […]
Categories: Build Your Capability, Can’t Pay the Bills, Loans / Debts / Credit, Make Sense of Money, Money Topics
