Where can I get debt help?

Even good money managers can find themselves deep in debt at times. For those of us who struggle to pay our bills on time the risk of failing into a debt trap is even greater but help is available.

People in debt are generally very vulnerable – the anxiety and desperation you may feel mean you could be easy prey for unscrupulous financial services vendors. Far from helping you, you could find yourself locked into an even worse mess. It’s important that you seek out independent advice before you take action.

Independent debt advice

Good sources of independent debt advice include: the Australian Government website “Understanding Money” and the Debt Helpline. As well as helpful links and resources, the Government site offers a free Understanding Money booklet, available by post or to download.

The Australian Banker’s Association also has a range of free financial education booklets to help you better understand debt and money management. Titles include: Smarter Money - Take Control and Stay On Top of Your Finances and Smarter Banking - Make Credit Work For You.
 
There is also an organisation called Christians Against Poverty that offers free and independent debt counselling for anyone experiencing hardship.

In addition the Australian Government's Financial Literacy Foundation may be a good resource and the major banks, believe it or not, provide information about financial literacy for consumers.

Debt relief and counselling

There are also professional financial counselling businesses that may be able to help you get on top of your bills and manage the expectations of your creditors. A very well known agency for debt relief is Fox Symes but there are others such as the Australian Lending Centre, Blue Stone and Debt Relief.

Many charitable organisations offer free advice and debt counselling – it may be worth while to seek their input before engaging a business such as Fox Symes to manage your affairs.