Financial hardship

Debt is at record levels in Australia and financial stress is common.


Life is busy and sometimes people have little time to sit down and manage their money. Often people don’t know where to turn when things start going wrong.


We help thousands of people like you every year who come to us because they are feeling financially stressed.

Feeling financially stressed? You're not alone.

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    $33.9 Billion

    Australia's combined credit card balances accruing interest

    (moneysmart.gov.au, 2014)  

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    $1.84 Trillion

    The total combined debts carried by Australian households

    (abs.gov.au, 2014)  

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    31 Years

    Time it would take to pay off a $4,400 credit card balance making the minimum payments

    (moneysmart.gov.au, 2014)  

Do any of these statements describe your situation?

  • Regularly spending as much as you earn
  • Frequently use your credit card (or multiple credit cards) to make ends meet
  • You have little or no savings
  • If one of life’s little emergencies cropped up, you wouldn’t have any cash on hand
  • You borrow money from family and friends
  • Creditors are chasing you
  • You've fallen behind in your payments
  • You have sought a payday loan to tide you over

We can help...

FAQs about financial hardship

Financial difficulty usually begins with a series of warning signs that tend to snowball. Loan repayments, for example, can quickly become unmanageable when continual late payments attract penalties. Credit card debt may become unmanageable if the balance is allowed to grow every month.

If you start falling behind on your payments, you may receive payment demands from creditors. If the situation isn’t remedied quickly, it’s not uncommon for creditors to issue default notices and refer the matter to a collections agency.

It can impact your credit rating, lead to the repossession of goods, and even escalate to legal action.

Don't let your financial stress escalate, seek financial assistance. Address your money problems swiftly.

If you are struggling with your finances, it’s important to communicate your situation to your creditors. You may be able to apply for a temporary variation of your repayments, or reduced payments on the grounds of financial hardship.

We help people from all walks of life to begin to ease their way out of financial trouble.

Solving your money problems can be easier when you have a team of experts doing the legwork.

MyBudget’s experienced negotiators can take care of the administrative requirements demanded by creditors. If required, we can communicate with your creditors on your behalf and may be able to negotiate revised payment plans for you.

We can work together to help you with your finances and begin to reduce money stresses you may be experiencing.

Our aim is to help fix your money problems so that you can get back on track faster and start enjoying your life again.

  • Our negotiators tend to know what sorts of terms are achievable.
  • They may be able to make changes to existing payment plans
  • Or they may be able to seek repayment moratoriums (a repayment break) while you get back on your feet

On your behalf, we can also:

  • Pay your bills with your own income
  • Manage your household budget
  • Show you how to pay down your debts
  • Show you how to save and get ahead
  • Become the contact point for your creditors, if you would like us to.

When it comes to money trouble, no two cases are the same. That’s why we take the time to listen. We want to hear about your situation because we care and because it’s the only way to thoroughly understand your predicament.

The strategy we design for you is customised based on your circumstances. We're not aligned with any creditors and we don't recieve outside commissions, so our advice is based solely on your options.

The first step to reducing financial hardship is to book a free, no-obligation consultation.

It’s a friendly, relaxed session where we’ll ask lots of questions, do a lot of listening, analyse your income and expenses, and closely examine your debt situation. This is an opportunity for you to gain a deep insight into your financial situation and ask any questions you may have. By the end of our time together, you have a detailed budget plan that explains your options and can provide you with the ability to decide which option you would like to pursue.

We appreciate that talking about your money problems can sometimes be difficult. As well as being professional, our personal budgeting specialists are friendly and caring. Ask us as many questions as you like. We are always here to help and we want you to feel comfortable with the budget plan we create.

To find out more or book you free, no obligation consultation, give us a call on 1300 300 922 or enquire online.

See how we have helped others…