Video: Financial counsellors and how they can help
Video about financial counselling
What is financial counseling and how can a financial counselor
help you. People from all walks of life can find themselves in
You might lose your job, you or someone in your family might
become sick, your relationship might break down all you simply
don't have enough money to live on, and the bills keep piling up.
Whatever the reason, a financial counselor can help.
Financial counselors work in community organisations. Their
services are free, confidential and non-judgmental. Most
importantly a financial counsellor is on your side and no one
else's. A financial counselor's job is to listen to your story,
understand your financial position and to look at what options you
might have. You might not think so but everyone has options.
Some other things that you and your financial counsellor could
discuss might be whether you could repay a smaller portion of your
debts. Credit providers also have a legal obligation to consider an
application for a hardship variation.
Or perhaps she could offer a one-off lump-sum payment. It might
make sense for the lender to accept this and write off the rest of
the debt. A financial counsellor can give you information about
your credit report and about what they can and cannot do.
They can tell you how to access assistance to help pay a bill from
your electricity or water provider or from the government.
For some people one option might be bankruptcy. A financial
counselor can also provide information about the advantages and
disadvantages of doing this. A financial counsellor will also look
up the legality of the debt. Perhaps don't owe the debt at all or
the amount the credit providers say you owe is wrong.
There will always be options and these are just a few of them.
Everyone's circumstances are different and everyone's options are
different. In the end it's up to you to decide what option you
think will be best.
Remember financial counseling is free, independent, confidential
and non-judgmental. You can organise to see a financial counselor
face to face, where you can talk to a financial counsellor on the
phone anywhere in Australia.
To find a financial counselor in your area you can contact 1 800
007 007 or go to www.debtselfhelp.org.au.
Last updated: 09 Aug 2016