Debt Help

Debt Help

There are many reasons why you might need help with debt.

Are you struggling to pay your mortgage? Is your credit card debt increasing? Are you unable to save?

Debt has a terrible habit of snowballing. Your debt was probably manageable until you experienced a change in circumstances. Perhaps you were suddenly lumped with unexpected bills, you needed to get your car or fridge repaired or your household income decreased due to job loss or illness. It’s not uncommon for debt to become unmanageable over time and lead to financial stress.

Common causes of debt stress

Loss of income
A life-changing event or reduction in income has left you with insufficient funds to meet your commitments.
Unexpected expenses
Everything was going fine until an unexpected bill cropped up. Now other bills are falling behind and you're feeling overwhelmed by debt.
Stuck in the cycle
You had some debt and sought a quick loan to pay it off. Now you’re using new credit cards and loans to pay off the other debts plus interest. You may be feeling like you can’t break the cycle.

Signs of needing help with debt

Do any of these statements describe your situation?

  • You have a history of missed loan payments
  • You regularly accrue fees or penalties for late payments
  • You are being chased by debt collectors
  • You have had goods repossessed
  • You are afraid of losing your home or car

You don't have to do it on your own.

We're here to help. Debt is solvable.


In simple terms, a money crisis describes too much money going out and not enough coming in. When there’s a stream of competing expenses, it’s easy to miss a loan repayment and then another. Late fees and charges start adding up and suddenly the situation feels unmanageable.

For some people, the need for help with their personal finances develops more subtly. Perhaps you’re living week-to-week, using your credit card to make ends meet, worrying or fighting about money, or regularly borrowing money from friends. Do you have a mortgage? You’d not be alone thinking your dream of home ownership has turned into a nightmare.

Whether you’re experiencing a full-blown cash crisis or just beginning to feel stressed out about debt, it’s important to seek help.

There are lots of companies across the country offering solutions. Before signing anything, however, it’s important that you understand exactly what a company is offering and how it will affect your situation.

Here are some questions to ask companies who offer debt help solutions:

  • What are the different products you offer?
  • Are you selling me a loan?
  • What are the legal consequences of your recommendations—Is this a form of bankruptcy?
  • What are the implications for my credit rating and how long will it affect my access to credit?
  • What costs will I pay?
  • How does your company get paid for your services?
  • Can I cancel, withdraw or get out of my contract?

Many debt relief providers are loan brokers or insolvency administrators who make money by selling loans or putting people into formal debt agreements (an act of bankruptcy) or bankruptcy.

MyBudget, on the other hand, can examine and explain alternatives.

We specialise in providing customised solutions that aim to reduce stress over time and achieve your financial goals without sacrificing your long-term outlook. We don’t believe in Band-Aid measures. Our budgeting experts can design a solution that addresses the cause of your financial problems so that you may begin to feel in control of your finances, pay off your debts and start to save.

Before choosing a debt management strategy, you should develop a detailed picture of your financial situation.

This will include looking at your income, debts, bills, living expenses and other financial commitments, as well as your priorities and goals. MyBudget can help you look at your debt from many angles.

Simply book a free, no-obligation consultation and one of our personal budgeting specialists will meet with you to analyse your finances and develop a strategy that gets you back on your feet.

MyBudget can assess your options to form a holistic view of your situation. It may even be possible for you to pay your way out of debt using your existing income.

Remember, our initial consultation is free—you are under no obligation to join MyBudget, and the customised budget plan we create for you is yours to keep.

Designing a debt management strategy is just the beginning. The next step is to put the plan into action and be disciplined in sticking to it. This is where many people stumble.

If you would like the benefit of ongoing support and structure to keep you on track, MyBudget can manage your budget for you. As well as designing a debt management program, our personalised plan can include:

  • Total visibility of your finances at your fingertips 24/7 online via our client website
  • A customised plan to pay off your debt
  • Communicating with your creditors, if you would like us to do so
  • Arranging more affordable payment terms with your creditors
  • Prioritising your debt and bill payments to optimise your use of income
  • Paying your bills and making loan payments on your behalf (including payments to friends and family)
  • Helping to ensure you have money for your day-to-day living expenses
  • Providing future savings projections
  • Setting aside your savings for you
  • Access to our online client support network via the Buzz

If you’d like to know more, call one of our friendly staff members on 1300 300 922. They’d love to answer any questions you may have.

See how we helped our clients with Debt

You could be a MyBudget success story too.

Grant & Alisha, MyBudget clients

“Life before MyBudget was very stressful – we didn’t actually do a lot of talking. We had our young son, so most of the time it would have been just me hiding everything from Alicia when it came to our bills and how much money we had in savings. Anything we kind of wanted I would just go and get and by that stage all the savings were gone and that’s when we had to come to MyBudget,”

Grant & Alisha, MyBudget clients

Dan, MyBudget client

“Before MyBudget the debt was really bad, it had gotten to a point where I’d spent too much money on travelling and going out and having a great life and living a lifestyle that really I couldn’t live up to... one day I woke up and went ‘I need to call MyBudget and sort something out’ and once I put something into place it instantly gave me the relief that I needed.”

Dan, MyBudget client

Alan & Debbie, MyBudget clients

"Life before MyBudget was incredibly stressful. Being with MyBudget has allowed us to have some surplus funds available, which is something we probably never had in the last few years. And what it is also allowing us to do is plan for things we haven’t been able to do for some time, like having family trips and holidays."

Alan & Debbie, MyBudget clients

Hear more from our clients

Find out more about MyBudget. Speak to us today. 

We can answer your questions and show you how easy it is to get started.

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