Help Reduce Debt

Debt has become a huge problem in Australia. Relaxed lending rules have made credit relatively easy to obtain. Fortunately, this is beginning to change as the government clamps down on marginal lending, but many Australians still find themselves with credit cards and personal loans they can’t afford.

It’s much harder to get out of debt than it is to get into it.

Things usually start out fine. Your first credit card usually has a manageable limit and you don’t have any problems paying it off every month. In fact, you’re such a good customer that the bank offers you a credit limit increase. The next thing you know, an emergency crops up, you’re short of cash and the easiest thing to do is to use the extra limit on your credit card. Suddenly the balance is unmanageable and you’re wondering how to get out of debt.

For other people, debt problems can arise because of uncontrolled credit spending. Credit cards prey on the human desire for instant gratification. When you start using credit for impulse purchases and everyday spending it’s easy to lose track of your expenses.

High interest rates also make getting out of debt difficult, particularly if you can only afford to make the minimum monthly payment on your loans and credit cards. Account fees and card charges only add to the burden. It’s no wonder that getting out of debt seems so hard.

MyBudget will show you the way out of debt.

The way out of debt 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 advice is free and independent, which means that we explore all of your options. We make a recommendation based on your specific needs. The roads out of debt, therefore, are as varied as our clients’ situations.

If you do become a MyBudget client, we can 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 many instances, we can negotiate for interest rate and repayment reductions or even arrange for payments to cease for a period of time while you get back on track.

Why is MyBudget so successful at getting people out of debt?

Putting your finances back on track is easier and quicker when you have MyBudget to do the work 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 alone, we managed over 1.5 million payments and $250 million in salaries on our clients’ behalf.

People tell us all the time, “I’ve tried making a budget, but it never seems to work.” That’s because making a budget is the easy part—sticking to a budget is what’s hard.

Our clients experience incredible levels of success because MyBudget does the heavy lifting for them. We manage our clients’ money on their behalf by ensuring that their bills are paid on time, creditors are taken care of, savings are deposited and, most importantly, that there’s always enough money to meet living expenses.

Getting out of debt takes time (think about how long it took you to get into debt), but MyBudget can help to speed up the process by keeping you on target. In fact, many clients are surprised by how fast they get out of debt (read Rowena and Kelly’s story).

You can view your budget plan online 24 hours a day, seven days a week via our secure
Client Website. You can log into your account at any time to view your savings, payments and other transactions. After all, keeping track of your progress is one of the most gratifying aspects of getting out of debt.

MyBudget helped Sean and Lynda get out of debt. We can help you, too.

When Sean and Lynda’s mortgage become unmanageable, they found themselves “robbing Peter to pay Paul” and borrowing money for expenses such as school fees. With MyBudget’s help, Sean and Lynda have reduced their debt and they have growing savings in the bank.

Start getting out of debt today.

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.