Image
Most people will go into debt at some point in their lives, from the smallest credit card debt to large mortgages over a house. It can be easy to lose track or fall behind on repayments. When this happens you may find yourself in a cycle where you are struggling to keep up and feeling like your debt is spiralling out of control.
At AFSA, we help people who are in extreme financial distress. Bankruptcy and other personal insolvency options are available, however we encourage you to seek help first. The earlier you seek help with your debt, the more informed you’ll be about your options and the better chance you’ll have to avoid formal insolvency options.
Budgeting
Dealing with money issues can sometimes be stressful. If you are struggling to keep on top of your finances, the sooner you act and seek help, the easier it will be to get back on the road to financial security. Understanding how things like credit or mortgages work can stop you from losing out financially and help you gain control of your finances.
Debt support services
If you’re in financial difficulty, we recommend contacting a financial counsellor.
Financial counsellors offer free, independent and confidential services to help you get back on track and discuss your options for dealing with unmanageable debt.
To speak with a financial counsellor, contact the National Debt Helpline on 1800 007 007. There are also more tools and resources available online on the National Debt Helpline website.
Untrustworthy debt advisors
If you’re facing personal financial problems, it’s important to know where to go for help that you can trust. That means speaking to an independent advisor who can give you options, and help you make the right decisions for your situation.
In your search for debt and bankruptcy help or information about debt consolidation, you may come across unregulated, unlicensed advisers. Some advisors provide untrustworthy advice, purposely targeting vulnerable people in times of financial crisis and pressure.