Get out of debt
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tailored budget plan
- Initial 10 min chat
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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.
We’ve saved our clients over $2,000,000 this year in debt arrangements.
Watch Megan & Creagh’s debt story of getting out of debt
In just 10 months, Megan & Creagh paid off 5 credit cards and started saving for a house.
Get started with a FREE tailored budget plan
- Initial 10 min chat
- Private & confidential
- Obligation-free
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.
How Megan and Creagh broke the cycle of $91k debt and started saving for a home
Megan and Creagh were caught in a cycle of debt that felt impossible to escape. Despite working hard, their financial progress stalled, and saving for their dream home seemed out of reach. “We didn’t have that starting base at all,” Megan explains.
With a staggering $91,000 in debt spread across multiple credit cards, they felt overwhelmed and frustrated. “It wasn’t big, lavish expenses that got us into trouble. It was day-to-day stuff,” says Creagh.
Their turning point came when they decided to call MyBudget.
The problem: a never-ending debt cycle
For Megan and Creagh, debt was a constant source of stress. Credit cards had become a crutch — rolling one balance into another and adding more to it.
- The realisation: “When we found out how much debt we actually had, there was no way we were gonna get a loan,” Megan recalls.
- The frustration: “We were getting nowhere, and that was so frustrating,” Creagh adds.
They knew they needed something to break the cycle.
The turning point: asking for help
After years of struggling alone, Megan made a call to MyBudget that would change their lives.
“There was no judgment,” she says. “These guys are so helpful and understanding, and they know what they’re doing.”
MyBudget’s team worked closely with them to:
- Understand their priorities and goals.
- Create a personalised budget to tackle their debt.
- Design a plan that balanced saving with enjoying life’s simple pleasures.
For Megan and Creagh, it wasn’t about giving up everything. “We still got to go out to concerts, comedy gigs, and dinners. We had the chance to go out and just be a normal couple,” says Creagh.
The results: from debt to savings
In just 10 months, Megan and Creagh achieved incredible results:
- Paid off five credit cards.
- Started saving for a house — 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,” says Megan. “It’s a big deal for me.”
The emotional relief: a weight lifted
One of the most significant changes was the emotional relief that came with having a clear plan.
- Peace of mind: “The weight’s lifted off your shoulders. You’re not worrying about it — let them worry about it,” Megan explains.
- A life-changing decision: “MyBudget has been the best decision we’ve made. The one regret I have is that I didn’t ask sooner.”
Breaking the cycle and building a future
Megan and Creagh’s story proves that with the right guidance and support, escaping debt and building a better future is possible.
From paying off $91,000 of debt to saving for their first home, their journey is an inspiring reminder that financial freedom isn’t just about the numbers — it’s about the freedom to live.
Get started with a FREE tailored budget plan
- Initial 10 min chat
- Private & confidential
- Obligation-free
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.
Megan & Creagh | Clients since 2018
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.
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