Here at Debt Free Australia, we are aware that personal debt problems can start at any time, even earlier in life. If you feel as though you are currently struggling with personal debt, or are on your way to having a problem, it is important that you seek professional financial advice.
More often than not, people run into personal debt problems due to credit card usage. Once your credit card has been maxed out, it is recommended that you refrain from applying for a new credit card. You need to allow yourself the opportunity to pay off the debt accumulated on your original card, not jump straight into more debt. Applying for a new card will not make your personal debt problems any better; it will only delay the inevitable bill for yet another repayment.
Take some time to reassess your spending. Many people with debt problems find that by keeping track of their spending with a strict budget and living within their means, their personal debt reduces more quickly.
Debt problems are avoidable if you seek help as soon as you find yourself floundering. If you have already passed this stage and have more personal debt than you can manage, it is best that you seek professional help before the burden gets any worse. Our professional and experienced team at Debt Free Australia is here for all your personal debt problems and enquiries.
For more information on personal debt, or for impartial and obligation-free personal debt advice, contact our 24/7 hotline on 1800 462 767.

One of the easiest ways of falling into debt is through excessive credit card use. Avoid the grievances and traps of personal debt and educate yourself on these common debt traps.
New Credit Card: Many people will simply obtain a new credit card in order to pay off their old credit card. Credit card providers are more than happy to give you a card, but you need to make sure you don’t fall behind even further on payments when it comes to paying off increasing credit card debt.
Credit Limits: Don’t fall into the trap of viewing credit limits as an approval to keep spending. Budget wisely and make sure you can actually afford to pay back a product before deciding to buy it.
Ignoring Letters: Choosing to ignore the piling letters from banks is not a solution to your problems. The faster you are able to recognise your inability to repay what you owe, the easier it will be to set a course of action.
If you feel as though you have fallen into one or more of these debt traps and are concerned about falling behind on your personal debt repayments, do not hesitate to call the experts at Debt Free Australia on 1800 462 767. We operate 24 hours a day, 7 days a week and are ready any time to take your call.

Bankruptcy is a topic that people try to avoid discussing. Not only is it a sensitive area of interest, it can also be very stressful and worrisome. Bankruptcy may be easy to fall into, but there are steps you can take to help yourself avoid it.
Debt Free Australia shares their top four tips for managing your finances if you believe you are facing bankruptcy:
1. Negotiate Your Debts
Contact your creditors and see if a negotiation can be reached. Perhaps a payment plan is a viable option? Most credit institutions have a hardship department that you can contact to ask for help.
2. Value Your Assets
Reconsider your assets and quantify their value. Material things can be replaced, however, your debts will linger and bring negative consequences.
3. Ask for Help
Set your pride aside and reach out for help, either from friends or family. If you are on the brink of bankruptcy, it would not be wise to borrow any more money from creditors.
4. Re-evaluate Your Situation
Ask yourself hard hitting questions and confront yourself on your financial situation. Distinguish between what you want and what you need, and assess what you can and can not afford before making a purchase. Avoid unnecessary purchases and save money that can go towards repaying your debts.
 
If you feel as though these tips are not enough to help with your financial situation, contact Debt Free Australia today for expert advice. There may be other courses of action you can take to help you avoid bankruptcy.
Our advice line operates 24 hours a day, 7 days a week. Call us on 1800 462 767 for a free evaluation of your financial situation.

If you have credit card and/or personal loan debt you are at a greater risk of having a creditor take legal action against you to recover their money. This is because these types of debt are usually unsecured, meaning that there is nothing attached to the debt which can be sold by the creditor if you do not pay. Without any security to fall back on, the only way that the creditor can recover any funds from you is to take the matter to court.
An unsecured creditor may be able to:

• Get a “Writ of Execution” from the Court, which is an order for the Sheriff to attend your home and seize goods which will then be sold at auction to pay your debt.
• Get a “garnishee order”, which is a court order that requires your employer to withhold a certain amount of your wages so that it can be paid towards your debt.
• Have you made bankrupt. This would mean that you would not be making payments towards your debts but, dependent on your income, you may have to make compulsory income contributions to your bankruptcy, and any sizable assets would be sold and the proceeds taken by your bankrupt estate.

It is possible to put a stay on such court-ordered action, but only with a formal arrangement such as a Debt Agreement, Personal Insolvency Agreement , and bankruptcy. These arrangements take some time to prepare so we never recommend waiting until you have been taken to court before beginning the process. If it all possible, you should nip the legal action in the bud as soon your creditors start sending threatening letters by calling a reputable service provider of formal debt solutions. If you have received a notification of impending legal action you should call our friendly and professional debt consultants immediately on 1800 462 767 for advice.

Debt Free Australia prides itself in helping individuals who are struggling with personal debt. Often the hardest step is telling someone about it and asking for advice. Many individuals suffer in silence because their sense of pride won’t let them ask for help. Receiving advice, however, is the best thing you can do when dealing with unmanageable personal debt.
Luckily, Debt Free Australia is here to give you that advice. With years of experience in Australian insolvency regulations and debt solutions, Debt Free Australia aims to provide uniquely tailored debt relief services, and their advice is impartial and obligation-free.
Unlike a number of other companies you might encounter, Debt Free Australia are fully licensed and authorised to offer all manner of formal debt solutions. When you feel there is no way out and the burden is only getting heavier, Debt Free Australia are here to give you the options that will help you to clear your personal debt.
Personal debt can be one of the most stressful things to face, but when you do decide to ‘face’ your personal debt, that iswhen things will take the turn for the better. Take the first step today and contact Debt Free Australia to receive advice that will set you on the right track and have you feeling better within minutes.
Remember, personal debt doesn’t have to be personal. Debt Free Australia can help you today on 1800 462 767.

With a proven track record of helping people to become debt free, Debt Free Australia are the leading personal insolvency specialists in Australia. Since their establishment in 2006, Debt Free Australia have utilised their knowledge, experience and expertise to provide thousands of individuals with debt relief services to free them from debt.
Debt Free Australia has four main debt relief services available for their clients.
The first debt relief service available is bankruptcy. The declaration of bankruptcy will bring about significant consequences for an individual, so it is critical that professional advice is sought before making such a decision. As part of this debt relief service, our knowledgeable staff will advise clients of any alternatives available to avoid bankruptcy and help them make the most appropriate decision for their individual case.
The second debt relief service available is Debt Agreement . It involves the arrangement of a formal agreement with creditors to repay a percentage of one’s debts over a period of approximately 3-5 years. With the help of a professional debt advisor, you may be able to successfully settle your debts for less than what is owed and without any more interest or charges.
The third debt relief service available is a Personal Insolvency Agreement. It is a legally binding arrangement between you and your creditors which freezes your debts and will most likely result in your repaying a reduced amount. The difference between a Personal Insolvency Agreement and a Debt Agreement is that this one is designed for people who have higher levels of debt, income and/or unencumbered assets.
By working closely with their clients, the Debt Free Australia team are able to understand the intricacies of one’s case, give advice on all available options and follow each solution through to its completion. Our CEO is a fully qualified Chartered Accountant and a Registered Trustee in Bankruptcy, so you are guaranteed to receive the best possible debt relief services by a licensed and registered insolvency practitioner.
To find out more about Debt Free Australia’s debt relief services, or for an obligation-free quote, contact us on 1800 462 767.

A debt consultation with Debt Free Australia can offer you a range of debt solutions tailored to your specific needs.
If you have concerns about your financial situation, the most damaging thing you can do is wait until your problems escalate uncontrollably. These are some of the warning signs that you might need a professional debt consultation:

• You use credit cards to pay off other debts
• Your credit limits are also maxed out
• You sometimes miss payments because you cannot afford to make them
• You lie to your family and friends about the amount of debt you have
• You are unaware of how much debt you actually have

If any of these apply to you, you should seek professional advice from a registered debt consultant. Often a debt consultation acts as a reassurance that your financial woes are not hopeless as they seem, and that there is a solution available.
Our trained debt consultants can work with your particular issues to determine which solution is the most appropriate. Sometimes the key to escaping debt is simply refinancing or budgeting, although at times it might be bankruptcy that is required, or another formal solution such as a Debt Agreement or Personal Insolvency Agreement.
Regardless of the severity of your problems, a debt consultant will be able to determine a solution for you that is often provided in-house—Debt Free Australia offers assistance with Debt Agreements, Personal Insolvency Agreements, debt consolidation, and bankruptcy.
Debt Free Australia offers a completely free debt assessment that will enable you to find out if a professional debt solution is necessary for your financial situation. Call us today for a complimentary debt consultation on 1800 462 767.

Putting all of your debts into one loan is called a consolidation loan, and it can be a manageable and affordable way for you to get your finances back under control. Taking out a personal loan is one of the most straightforward ways to consolidate debts. Debt consolidation loans often have lower interest rates than credit cards, store cards and other lending schemes, meaning you could pay off your debts sooner.
Most likely the interest rate on a home loan could be a lot lower than the rate you’re paying on other types of debt, so refinancing your mortgage to pay out your unsecured debts could also be a wise decision. If you want to further reduce your monthly commitments, you may be able to elongate the time you have to pay off the loan compared to some of your current debts.
There are many other advantages of consolidated loans that could potentially save you money in the long run. Debt consolidation loans provide you with a set repayment plan that helps you organise your debt. This plan allows you to have only one single repayment, making it easier for you to manage your money and putting an end to late payment fees. If you are considering a debt consolidation loan for your debts, feel free to call one of our personal debt advisors on 1800 462 767 to discuss if a debt consolidation loan is right for you.

At Debt Free Australia, we are all too aware that personal debt problems can start early in life. A huge issue currently affecting Australia is student debt. Student debts are not only causing problems for students, but also greatly affecting the federal government. A recent report found that unpaid student loans from 2014 will end up costing the federal government $1.1 billion.
Accumulating a large debt early in life has the ability to ruin an individual’s future. Students not only incur HECS and FEE-HELP debts that will need to be repaid when they join the workforce, but many are also forced to take out loans during the course of their studies to help pay for living and tuition expenses. Debt Free Australia is here to offer people who are struggling with paying their student loans the best possible advice. We can help these individuals find solutions for their debt problems, and guide them through paying off their debt.
Debt education can be a huge step towards minimising student loan debt. Debt Free Australia believes that every individual, of every age, should be educated about the causes and consequences of over-indebtedness, and the possible solutions for fixing their financial problems.
If you would like more information about student loans, feel free to call one of our personal debt advisors on 1800 462 767.
 

When your finances are running low and your stress levels are higher than ever before, it can be difficult to know which is the best path to take. Individuals often fail to understand the options available for them to achieve better outcomes, such as a Personal Insolvency Agreement, and so they may file for bankruptcy prematurely.
A Personal Insolvency Agreement is a legal alternative to bankruptcy, involving the establishment of a formal agreement between a debtor and their creditors. With the objective of the agreement being to achieve the best outcomes for both parties, a settlement may be reached in which the debtor will pay an amount that may be less than what is owed, but more than what would be paid if they were to go bankrupt.
A significant advantage of a Personal Insolvency Agreement is that it does not involve the disposal of your assets, such as your home, whereas this may occur is one went bankrupt. Furthermore, a Personal Insolvency Agreement, unlike bankruptcy, will allow you to continue to travel overseas while insolvency procedures are still being performed, which is an advantage for those whose jobs require them to travel.
Another thing to consider is that, whilst both a Personal Insolvency Agreement and bankruptcy will place a mark on your credit file (for a period of five and seven years respectively), the restrictions of sourcing finance after having completed a Personal Insolvency Agreement will not be as strict as they would be with a bankruptcy record on one’s file.
Therefore, when facing financial difficulties, individuals should first consider the option of a Personal Insolvency Agreement. This option allows them to  repay a portion of their debts and so avoid many of the harsh restrictions associated with bankruptcy.
To know if a Personal Insolvency Agreement is right for you, consult with a fully licensed expert who can properly assist you and provide a solution. At Debt Free Australia we can help you with any type of insolvency service, every step of the way, and will carefully explain the differences between your available options to help you make a more informed decision about your financial future. We also offer a free debt assessment.
For impartial and obligation-free advice, or to find out more about the services available at Debt Free Australia, contact 1800 462 767.