Credit card debt

“We were drowning in $91,000 of debt, and it felt like we’d never get ahead. MyBudget helped us pay off five credit cards and start saving for a home”

Megan & Creagh MyBudget Clients

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Watch Megan & Creagh’s journey

For over 25 years, MyBudget has helped 130,000+ Australians fast track their financial goals by reducing their debt and building savings.

For over 25 years, MyBudget has helped 130,000+ Australians reduce debt and grow savings.

Last year we saved our clients over $350,000 in credit card and personal loan repayments.

How we can help with credit card debt…

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Pay off your credit card faster

We find the right credit debt solution for you, so that you pay down debt faster.

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Credit card debt solutions

We put a plan in place based on your needs. We’ll build a budget that can help you achieve this without compromising your lifestyle.

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Get creditors off your back

We stop the unwanted phone calls and take the stress away.

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Credit card consolidation

We can explore consolidation options which can reduce your total repayments and get you back on track.

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Improve credit score

Improve your credit score with a budget plan that keeps you on track with your credit card payments. On-time payments are key in improving your credit score.

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You don’t have to do it alone

We are with you every step of the way. We care about supporting you to reduce your debt stress, so you can spend more time on the important things in life.

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Real life case study: See Megan and Creagh get out of credit card debt and start saving

In just 10 months, Megan & Creagh paid off 5 credit cards and started saving for a house.
Megan and Creagh were trapped in a $91k debt cycle and struggled to see a way out. After joining MyBudget, they created a plan to balance debt repayment and saving for a home. In just 10 months, they paid off their debt and gained the peace of mind they needed, proving financial freedom is possible with the right support.
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4 debt busting strategies

Live your life free from money worries

  • Initial 10 min chat
  • Private & confidential
  • Obligation-free

Your MyBudget journey begins with an initial obligation-free conversation with one of our money experts. They will chat to you about your financial position and gain an understanding of the financial goals you want to achieve.

Select a callback time

Debt Solutions FAQs

What debt services and solutions does MyBudget offer?

For those needing help with debt relief, we can look to see if we can speak with your creditors, negotiate payments and develop a tailored debt strategy. This may include debt consolidation, mortgage refinancing, a Part IX Debt Agreement, bankruptcy or affordably paying your way out of debt.

Will debt collectors still call me and how do you help?

Generally, collection calls begin to stop as we contact your creditors to advise them that we are managing your financial obligations. However, If a creditor or debt collector does call or contact you, ask them for their best contact number and for your account number/reference, and tell them you’ll be calling us to organise for us to contact them – then call us – we’ll sort the rest.

What is debt consolidation?

Debt consolidation combines multiple existing debts into a single new loan. The aim is to reduce your repayments by paying out your existing debts and rolling their balances into a single, larger loan with an interest rate and repayment that is lower than the sum of the previous, separate loans.

Does MyBudget provide financial advice?

MyBudget is a budgeting, debt solutions, and money management service. We provide a range of structure and support services associated with managing your personal expenses. While we do hold an Australian Financial Services Licence (AFSL) and Australian Credit Licence (ACL), we are not financial advisors and offer general financial advice only. For personal financial advice or financial product recommendations, we recommend you seek the services of a licensed financial advisor.

What if my expenses are higher than my income?

This is a very common scenario. We may negotiate with your creditors to obtain the lowest monthly payment obligation that fits within your personal or household budget.
We also offer suggestions on how you can tailor your expenses to reflect your income.

What if I get an unexpected bill?

If an emergency or unexpected expense should arise, all you need to do is contact MyBudget. We’ll work with you to find a solution. Ideally, unexpected expenses can be covered with savings set up for this purpose, and we’ll assist you to develop that buffer. Alternatively, we can look to see if we can rework and adjust your budget to accommodate payment of the bill. We’re here to help.

Can’t find what you’re looking for? More FAQs.

How Megan and Creagh cleared $91k in credit card debt with MyBudget’s support

Megan and Creagh found themselves stuck in a cycle of credit card debt that felt impossible to escape. Despite working hard, their financial progress had stalled, and their dream of homeownership seemed further away than ever, because they were trapped in a cycle of credit card debt repayments.

“We didn’t have that starting base at all” Megan recalls.

With a staggering $91,000 in credit card debt, spread across multiple accounts, they felt overwhelmed and frustrated. They’d fallen into high interest credit card debts. “It wasn’t big, lavish expenses that got us into trouble. It was day-to-day spending,” says Creagh.

Their turning point came when they decided to take control and find a way to get out of credit card debt for good.

The problem: a never-ending cycle of credit card debt

For Megan and Creagh, credit cards had become a financial trap. They were stuck in a pattern of rolling balances from one card to another, watching the debt pile up month after month.
  • The realisation: “When we found out how much debt we actually had, we knew there was no way we’d get a mortgage,” Megan admits.
  • The frustration: “We were getting nowhere, and that was so frustrating,” Creagh adds.

They knew they needed help to break the cycle and clear their credit card debt once and for all.

The turning point: support from MyBudget

After years of struggling alone, Megan made a life-changing decision. She reached out to MyBudget, a team of financial experts dedicated to helping people pay off credit card debt quickly and regain control of their finances.

“There was no judgement,” Megan says. “They were so helpful and understanding, and they really know what they’re doing.”

With MyBudget’s guidance, they:

  • Assessed their financial priorities and goals.
  • Created a structured, realistic plan to clear their credit card debt.
  • Built a budget that allowed them to pay off debt while still enjoying life’s simple pleasures.
Importantly, the plan didn’t require them to give up everything. “We still got to go out to concerts, comedy gigs, and dinners. We had the chance to just be a normal couple,” Creagh explains.

The results: from credit card debt to financial freedom

In just 10 months, with MyBudget’s support, Megan and Creagh achieved incredible results:
  • Paid off five credit cards
  • Cleared $91,000 in credit card debt
  • Started saving for a home — a dream they never thought possible.

“To know that we’ve done that and have savings ready for a house—I’m so proud of us,” Megan shares. “It’s a big deal for me.”

The emotional relief: a weight lifted

Beyond the numbers, the biggest change was the peace of mind that came with having a clear financial plan.
  • Less stress: “The weight’s lifted off your shoulders. You’re not worrying about it—MyBudget helps you stay on track,” Megan explains.
  • A life-changing decision: “Reaching out to MyBudget was the best decision we’ve made. The only regret is that we didn’t do it sooner.”

Breaking the cycle and building a future

Megan and Creagh’s journey proves that getting out of credit card debt is possible, and you don’t have to struggle alone. With the right support and a structured plan, you can pay off credit card debt quickly and start working towards financial freedom.

From eliminating $91,000 in credit card debt to saving for their first home, their story is a powerful reminder that financial success isn’t just about the numbers — it’s about reclaiming your future with the right support.

Read more...
Get started
4 debt busting strategies

Live your life free from money worries

  • Initial 10 min chat
  • Private & confidential
  • Obligation-free

Your MyBudget journey begins with an initial obligation-free conversation with one of our money experts. They will chat to you about your financial position and gain an understanding of the financial goals you want to achieve.

Select a callback time

debt solutions
Megan & Creagh | Clients since 2018

Pay down credit card debt

  • Pay off your credit card debt faster
  • Reduce your total repayments
  • Gain greater control of your money
  • Get creditors off your back
  • Stay on track.

Ready to take control of your finances

If you feel stuck in a cycle of debt like Megan and Creagh, MyBudget can help you:
  • Create a personalised plan to tackle your debt
  • Automate payments so you never miss a bill
  • Gain peace of mind knowing your finances are under control.
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Megan & Creagh | Clients since 2018
Don’t just take our word for it

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MyBudget have changed our life. We’ve paid off all our debts ($150k+) and started saving for a house. Knowing MyBudget are there to provide advice on my situation has been the biggest relief. I’m not alone, I have somebody in my corner. I recommend MyBudget to anybody wanting guidance on their financial situation.

DaniMyBudget client
We have been with My Budget for several years. We have paid off debts, created savings and purchased a home. We have also had numerous great holidays and a quality of life that wouldn’t have happened without the My Budget forward planning budget.

AliMyBudget client
I went from being 3 months away from bankruptcy to becoming debt free and having savings put aside.

NateMyBudget client