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Getting out of credit card debt

We’re here to help you get your credit card debts under control and pay them off as soon as possible. Our solutions are tailor-made just for you.

 

We’ve already helped tens of thousands of Australians, all on terms that are comfortable for them.

When your credit card debts are just too much

When your credit card debts only seem to be growing, you can feel trapped.

Even simple, everyday spending on food and transportation can make life stressful.

You try to pay off your debts each month, but when multiple credit cards are maxed out, late fees keep shooting up and you may find that you can barely make a dent in the interest charges

If all you earn goes towards paying the debt, you never save.
 
For a little relief, you may be using one credit card to pay off another, but this sinks you in deeper.
 
Feeling uncertain about your financial future is stressful and frustrating. It may have you feeling stuck.
 
But don’t worry. There’s light at the end of the tunnel.

With our help, you can:

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    Maximise your income

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    Pay off your credit card debts faster

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    Have money in your pocket

We can help. Get in touch today. 

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Don’t feel bad. You’re not the only one with credit card debt.

Credit card debt is something a lot of Aussies struggle with. It’s a major source of financial stress for many. There’s no need to feel alone.
 
Here are some facts about Australian credit card debt:

$45 billion

The total national credit card bill

2 million people

Don’t pay off their credit cards in full at the end of each month

(australia.creditcards.com, 2014)

$7 billion

Annual spend on credit card interest

Feeling overwhelmed by credit card debt is nothing to feel embarrassed about, especially if you don’t have the right financial training.

Life doesn’t always go to plan. It makes huge demands, some of which are totally unexpected and life-changing.

  • You may have suddenly lost your job.
  • Unforeseen health issues may have put you in bed, unable to work.
  • You may have broken up with your partner. Now your total household income is less than half of what it used to be.
  • Your rent may have escalated unexpectedly.
  • Interest rates on your mortgage just shot through the roof.

These things could happen to anyone.

You have options to help you out of credit card debt:

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Pay your way out

With the right support to build good financial habits, you may be able to pay off your credit cards with your existing income.

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Take out a credit debt consolidation loan

By consolidating multiple debts into one, you’re giving yourself a single debt with a single interest rate to focus on.
 
If the interest rate on your debt consolidated loan is lower than individual interest rates, you could save money and improve cash flow.

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Transfer your credit card balance

You can transfer your balance to a card with an interest free period or a lower interest rate. By doing so you can give yourself a break from paying interest – and a chance to get some money back in your pocket.
 
WARNING: balance transfers can keep debt cycles going if you’re not careful.

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Apply for insolvency or declare bankruptcy

If you can’t see a way out of your debt spiral, applying for insolvency and declaring bankruptcy may be an option. This is a serious decision that involves detailed legal processes and has long-term consequences.
 
WARNING: a successful application for insolvency can damage your credit rating and stop you from accessing credit for five years or more.

How MyBudget can help you get out of credit card debt

We deal with complex financial situations on a daily basis. If you’re confused about how you can get out of credit card debt, we’re here to help.
 
We start by getting a thorough understanding of your financial situation.

To offer a solution that works for you, we take into account:

  • Your bills and expenses
  • Your assets
  • Your debts and loans

Our solutions aim to help you:

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    Focus

    We can prioritise your debt and bill payments so you can optimise the use of your income

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    Make payments

    We can pay your bills and loan payments for you (including to friends and family)

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    Budget

    We can help ensure you have enough money for day-to-day living expenses

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    See with clarity

    We can provide you with visibility on your financial progress and give you an idea how long it will take to get out of debt

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    Communicate

    We can help to take away the stress by talking with your creditors on your behalf

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    Negotiate

    We can negotiate affordable payment arrangements to help get you back on track

In the end, you can:

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    Stress less

    Relax as we manage the debt reduction process for you

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    Sleep better

    Stressing less means you can sleep more peacefully at night

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    Reduce your bills

    Sticking to a plan is the only way to see your credit cards debts decrease over time

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    Increase your earnings

    With credit card debts reducing, you’ll save money on interest and  have more money in your pocket

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    Escape debt collectors

    As credit card debts get paid off, debt collectors and creditors may no longer chase you

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    Look to a brighter future

    A credit card debt-free future means a more financially secure and stress-free future

We’ve helped thousands of Aussies pay off their credit card debts

We can do the same for you.

We’ve already helped over 110,000 Australians get out of debt. Without heavy debts hanging over their heads, our clients now live more relaxed, happier lives.

Check out our testimonials to see what some of our clients have to say about the difference MyBudget has made in their lives.