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Struggling to repay your debts? Get help

By Administrator 13 July, 2015

Unfortunately for many, debt is a reality in most modern households. Many Australians are struggling with their personal debt and are unable to meet their debt repayments to creditors. The good news is that there is help available. Here at Debt Free Australia we provide simple and effect solutions to Australians who are struggling with debt. Here are some quick tips on how to get help with debt:

Assess your financial your situation & establish a plan

Before you can take any major steps towards implementing a debt repayment program, it is important to first analyse your full situation. To do this you need to firstly prepare a household budget. Then you need to work out where you are spending your money and if you can trim back any unnecessary expenditure. Remember when you are in debt you should only be spending money on essential items. You should wait and reward yourself with unessential items until after you have repaid your debt.

If you have worked out a good budget you should have some money left over each pay day to repay debt. Now you will be able to work out which debts you will repay first. If you have debts with a high interest rate then it is best to repay them first. If all of your debts attract a similar rate of interest then it is best to pay them equally. That way all creditors are being treated equally.

Review your plan each month

It is important that you review your progress every month to see if you are achieving your goals. It may be necessary to change your original debt repayment plan. This may be the case if you didn’t allow yourself enough money to buy essential items each week. Whilst repaying debt is important your health is more important, so always leave yourself enough money to buy essential items like food and medical items.

Achieve your debt goals

If you follow this advice you should achieve your goals and free yourself from debt. Every situation is different so we can’t give you a time frame here in which you will become debt free. If you would like us to do a free debt assessment call us on 1800 676 598. Once we do a free debt assessment we will be able to tell you how long it will take to become debt free.

Consider Professional Debt Help

If your debt repayment plan didn’t achieve your goals, then it may be necessary to get professional debt. Here at Debt Free Australia we have been helping Australians get out of debt for years. We have a proven track record in debt management solutions to help struggling Australians. If you need professional debt help call us today on 1800 676 598, or complete our on-line debt assessment.