Debt solutions

Don’t let your debt keep you up at night! We can help take the weight off your shoulders.
Get started with a FREE

tailored budget plan

Select a callback time

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

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

We negotiated over $1,000,000 worth of savings for our clients in 2023 through debt arrangements.

How we can help with debt relief…

test-hidden-accordion

The right debt solutions

We put a debt solutions plan in place based on your needs. We’ll then build a budget that can help you achieve this without compromising your lifestyle.
test-hidden-accordion

Talk to creditors on your behalf

We stop the unwanted phone calls from debt collectors and arrange the best solutions for you, taking away the stress.
ames australasia

Pay your way out of debt

Through budgeting, you may be able to pay your way out of debt without needing new loans or credit cards.
50 percent off

Improve credit score

We can help improve your credit score with a budget plan that keeps you on track with your credit and loan payments. On-time payments are a key step in improving your credit score.
christmas budget calculator

Build emergency savings

We can help you create savings, while eliminating debt, to protect against the unexpected.
test-hidden-accordion
Have peace of mind
Reducing debt stress will allow you to spend more time on the important things in life.
debt solutions
Megan & Creagh | Clients since 2018

Debt relief in a snapshot

  • Informal debt agreements
    We can make informal debt agreements on your behalf with payment terms that are more affordable for you
  • Debt consolidation
    We can help you explore your debt consolidation options. Save money by combining multiple debts into a single loan
  • Personal Insolvency
    We will explore all of your options and if needed, we can help to administer your insolvency arrangements.
Don’t just take our word for it

We’re often featured in many trusted sources

“It wasn’t big lavish expenses that got us into trouble, it was the day-to-day stuff. It was easy to roll one credit card into another – it was a never-ending debt cycle and we needed to break that cycle. After one year of joining MyBudget, all our credit card debt was paid off.”

Megan & CreaghClient since 2018
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.”

AliClients since 2019
“I went from being 3 months away from bankruptcy to becoming debt free and having savings put aside.”

NateMyBudget client

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.