Australia has been ranked as a country with one of the highest costs of living in the world. While Australia is a fantastic place to live, over 2 million residents are living below the poverty line prompting a call for more free financial assistance in Victoria.
In a recent analysis of Debt Rescue data, we have identified there has been a 271% increase in clients entering new Debt Agreements, who have accumulated an Afterpay debt over the last 6 months compared to be previous 6 months.
While money might make the world go around, it remains on the big three conversation categories to avoid at a dinner party. It is also one of the biggest causes for marital and relationship breakdowns.
So you’ve wound up in debt and you can’t understand why? There are a number of common reasons for debt in Australia. It can happen to anyone and often, all it takes is one event to knock you off financial track.
Money management is hard at the best of times. So when something goes wrong, such as losing your job, it doesn’t take much for financial disaster to strike. You can have plans in place to help in situations like this, such as an emergency savings account and income protection insurance.
Is your credit card debt out of control? Are you in over your head with missed repayments, high interest and mounting fees? It sounds like you have fallen into the credit card debt trap!
Bankruptcy is an accessible and readily available option for people to get out of severe debt. The eligibility criteria is minimal and the application process is as simple as providing the appropriate documents. We will explain the thresholds and criteria to help you decide if Bankruptcy is for you.
As of January 2018, there are 16,711,163 credit cards in circulation in Australia. The national debt owing on these cars totals more than $32 billion. Are you one of the 70% of Australians who own one or more credit cards? Do you have a plan to pay off credit card debt?
Financial Hardship is a state of affairs when you simply can’t afford to repay your debts. Often, financial hardship is only temporary and can be caused by a change in income, a breakdown in relationship or an injury or illness.
An Informal Agreement can be a lifesaver for many, with lots of perks. Here at Debt Rescue, we offer our own Informal Agreement called a Debtstroyer Agreement. Despite the many benefits, there are a few risky downfalls to entering an Informal Agreement that you should keep in mind.