Debt Management

Why seek debt management?

If you’re losing control and overwhelmed with unpaid bills, you need to take action. The important thing is to seek help quickly. Don’t ignore your debt.

Whether it be due to over-commitment, lack of income, difficulties in understanding finance documents, relationship issues, family violence, health problems or separation, Better Place Australia can help you to identify and manage your debts appropriately.

Our service is free, confidential and non-judgemental. Please note that financial counselling is NOT the same as a (potentially costly) debt consolidation service.

Who uses debt management?

If you are experiencing any of the following, you may be eligible for free financial counselling:

• Unable to pay your bills on time
• Receiving disconnection notices for power, water or phone
• Not able to pay the minimum monthly payments on your credit cards or loans
• Debt recovery through court
• Uninsured car accident claims
• Taxation and/or Centrelink debt
• Behind on your rent or mortgage
• Unable to cover unexpected expenses, such as car repairs or fines
• Worried about your house/car repossession
• Facing bankruptcy

How does Debt Management work?

Better Place Financial Counsellors can assist you to:

• Work out what you can afford to pay
• Negotiate payment terms
• Prioritise your debts
• Work out the risks involved in debt agreements
• Provide long term debt solutions
• Know your rights – you cannot be sent to prison because you cannot pay a debt

A Financial Counsellor assists you with managing your debts and getting your finances back under control. Our  financial counselling service is free, confidential and independent. Better Place Australia is a not-for-profit, community-based organisation that is available to people in various areas of Victoria who are experiencing financial difficulty.

What can you expect?

If you are concerned about managing your debts and want to use our service, then our financial counsellors will:

• Do a full assessment of your financial situation, including preparing an income and expenditure statement, and detailing assets and liabilities
• Provide advice on how to negotiate with your creditors, government agencies or other business providers
• Negotiate directly with your creditors in certain circumstances
• Explain your options and their consequences, including debt recovery process
• Accessing government grants if eligible
• Help you manage debts related to business partnerships and family trusteeships
• Help you organise your finances and provide budgeting tips
• Provide advice about what options, rights and responsibilities you may have
• Refer you to other services you may need, such as legal services, crisis services, mental health services and other community services

What won’t our service allow us to do?

• Provide financial advice related to investments and superannuation
• Provide legal advice
• Manage assets for you
• Provide emergency relief or monetary help
• Provide debt agreement services.

Read the Examination of Financial Hardship, Debt and Poverty Amongst 1900+ Users of the Better Place Australia Financial Counselling Service. Part of the research of Centre for Better Relationships (CBR).

CBR is the research arm of Better Place Australia.