Debt relief solutions
Need help with debt? Our Australian debt relief programs are designed to help you pay off debt fast, get back on track, and take control of your financial future.
Book your free budget appointment
- Initial 10 min chat
- Private & confidential
- Obligation-free
For over 25 years, MyBudget has helped 130,000+ Australians fast track their financial goals by reducing debt and building savings.
$2 million saved in debt arrangements for our clients in 2024 helping Australians become debt free fast.
How MyBudget’s tailored debt relief solutions put you back in control
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.
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.
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.
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.
Build emergency savings
We can help you create savings, while eliminating debt, to protect against the unexpected.
Have peace of mind
Reducing debt stress will allow you to spend more time on the important things in life.
Debt relief solutions that helped Megan & Creagh pay off $60,000 in 10 months
Megan and Creagh were $91,000 in credit card debt. Everyday overspending, combined with multiple interest-free balance transfers, left them stuck with high-interest balances and no clear plan to get out of debt.
With MyBudget’s debt relief solutions, they gained:
- A tailored debt repayment plan to help them pay off debt faster and map out their income and expenses for 12 months
- Automated payments to cover all bills and debts on time
- Extra repayment strategies to minimise interest and show them how to budget better.
In just 10 months they:
- Paid off $60,000 and cleared five credit cards
- Reduced money stress with the right help and support
- Stayed on track to reach their goals.
Now, Megan and Creagh have proven that with the right help to get out of debt, you can pay off debt faster, budget better, and still enjoy life, all while working towards big goals like a house deposit.
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.
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.
Michelle & Phil paid off $40,000 with MyBudget’s expert support
Michelle and Phil wanted to pay down their credit card debt, reduce money stress, and start saving for the future, but juggling bills and expenses kept them stuck.
With MyBudget, they gained:
- A tailored debt relief plan to pay off debt faster
- Automated bill payments to reduce money stress
- Expert guidance and support to keep them motivated and accountable.
In just 12 months they:
- Paid off $40,000 in debt
- Started saving for future goals
- Regained control over their money.
Now, they’re debt-free, financially confident, and ready to focus on building the future they want.
Michelle & Phil | MyBudget clients
Debt relief solutions 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
MyBudget has been featured in leading Australian media and trusted publications.
