If you’re experiencing financial difficulty, it is important to understand you are not alone. Every year thousands of Australians fall into undesirable financial situations which, without the right financial management skills, can quickly spiral out of control. If you have found yourself in this situation and are losing confidence in your ability to repay your debts, it is crucial that ...

Feeling a little guilty after splurging on your credit card(s) this Christmas? You’re not alone in your credit card woes. In the past two decades, the amount owedby the nation collectively on credit and charge accounts has surged from $6 billion to almost $50 billion. With the season of giving now over, it’s time to review four hard truths about ...

Debt can appear to be a complicated, unmanageable and often overwhelming problem for many individuals facing it alone. The impacts ofthe associated stress and anxiety from debt can affect all areas of an individual’s life – from family and personal relationships, to their own personal wellbeing. Like a cyclone, you can be lucky enough to be aware of your debt ...

Debt consolidation, otherwise known as ‘refinancing’, is one of the many personal debt solutions available to help financially distressed Australians overcome their debt issues. People normally pursue debt consolidation loans for two main reasons;to secure a lower interest rate, and/or to reduce the number of payments needed to manage each month. But how well do debt consolidation loans really weigh ...

Despite Australia’s economy being forecasted as the 13th largest in the world in 2015, Australian households now have the fifth highest debt levels. Australian household debt figures have recently sky rocketed to new heights, with some of the latest reports –including those of the AMP and the National Centre for Social and Economic Modelling – claiming that the average household ...

‘Positive’ credit card reforms may not be all they seem, with some changes doing more harm than good and trapping Australians in debt for longer.The average credit card debt now lingers around for an average of 27 years – two years longer than the average in 2012. Many credit card providers have circumvented the Australian government’s crackdown in 2012 that ...

How does a formal arrangement bind all creditors? Formal arrangements with creditors are an attractive option if you need your proposal to be legally binding on all creditors. One of the major disadvantages of an informal arrangement is that they are not legally binding which means creditors are not obliged to accept your proposal and can demand full repayment of ...

According to a report by the Australian Small Business Commissioner, Mark Brennan, access to finance is a significant barrier for many Australian business owners. SME entrepreneurs, in particular, are increasingly turning to their personal finances to fund their ventures. Many have been forced to use their own credit cards and personal loans to finance their company operations. Starting and running ...