Help During Financial Hardship

Most people fall into financial hardship accidentally because life has the propensity to change suddenly. A need for debt relief can be caused by many reasons, some of which may be beyond your control. Job loss, illness and relationship breakdowns are some of the leading causes of financial hardship (read Rowena and Kelly’s story). Financial hardship can also stem from poor money management decisions. Overspending and overusing credit gets thousands of people into financial difficulty every year.

The key to debt relief and resolving a money management crisis is taking fast action.

One of the most important things to do during a money management crisis is to communicate your situation to your creditors and seek to vary your repayment obligations on the grounds of financial hardship.

We appreciate, however, that this can be a daunting task. Talking with your creditors often adds an unbearable load to your stress levels, especially when you’re already overwhelmed. You must also be able to prove your financial hardship. Applying for financial hardship status is an in-depth process involving lots of paperwork and administrative hurdles.

Throughout the process, creditors can also continue to demand payments from you. It is not uncommon for creditors to continue sending default notices which can impact your credit rating and can lead to repossession of goods and legal action against you.

MyBudget’s team of expert debt relief negotiators can do the work for you.

At MyBudget, we have a team of expert negotiators who specialise in debt relief. They can take care of all of the documents, information and administration that your creditors require.

MyBudget can also communicate with your creditors on your behalf and negotiate realistic payment plans with them—repayments based on what you can afford. Our vast experience in debt negotiation means that we know what sorts of terms are achievable. In some instances, we can negotiate for interest rate and repayment reductions, and for payments to cease for a period of time while you get back on track. In 2011 alone, we successfully renegotiated over 220,000 payments to creditors for our clients.

Debt relief and money management go hand-in-hand.

For debt relief to be most effective, it must also be accompanied by a workable money management strategy. This starts with a free consultation where we will assess your financial situation in detail. As well as analysing your income and expenses, we closely examine your debt situation. Even if you decide not to proceed with MyBudget, your customised budget plan and our recommendations are yours to keep for free.

Our money management and debt relief advice is independent which means that we explore all of your options and make a recommendation based on your specific needs. The solutions we recommend, therefore, will vary from one person to another because no two situations are exactly the same.

Putting your finances back on track is easier and quicker when you have MyBudget to do the heavy lifting for you. We make sure that your bills are paid on time and that there’s always enough money to cover your living expenses. In 2011 we managed over 1.5 million payments and $250 million in salaries on our clients' behalf.

Many MyBudget clients say they experience an almost immediate sense of relief knowing that MyBudget is helping them to take control. Your debt won’t disappear overnight, but with a tailored money management plan and a customised debt relief strategy in place, you’ll know that every dollar you earn is getting you ahead. This is the quickest and most effective way to remedy financial hardship and get your finances back on track.

MyBudget helped Jade overcome her debt and money management problems. We can help you, too.

Jade joined MyBudget when she realised her need for debt relief assistance was linked to poor money management experience. MyBudget negotiated debt reductions with some of Jade’s creditors and created a tailored personal budget plan for her which is teaching Jade valuable money management skills.

Debt relief is available today. Book a free financial hardship assessment now.

A free consultation with MyBudget is an opportunity to gain deep insights into your financial situation and all of your options. Even if you decide not to become a MyBudget client, the budget plan we prepare for you is yours to keep at no charge.

Change doesn’t have to be difficult. The first step is always the hardest, but in this case it’s as simple as making a phone call. Take the step today to get out of debt and start saving. It’ll be the best decision you’ve ever made.