Debt

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The NSW Government has launched a free online legal service to help people overcome mortgage pressure and settle rates debts with local councils without the stress of court proceedings, Attorney General Mark Speakman announced today.  The LawAccess NSW website now provides two interactive guided pathways to match people with the information they need to resolve…

Read More Free online pathways to solve legal problems

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Today ASIC has released Report 604  Credit card lending in Australia – An update (REP 604), which sets out the changes being made by lenders to help consumers with credit card debt. In July 2018, ASIC released Report 580 Credit card lending in Australia (REP 580), which found more than one in six consumers is struggling with credit card debt. The…

Read More Lenders commit to improve credit card practices following ASIC review

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Australia’s leading consumer groups will join forces in Canberra today to call on the Federal Government to strengthen our laws to stop irresponsible, harmful lending practices in our financial services sector. “Irresponsible lending and crippling debt are having a real, devastating impact on Australians, putting people at risk of bankruptcy, homelessness and life-long debt,” says…

Read More Fair Finance Day of Action

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ASIC is warning consumers about companies that claim they can fix a poor credit rating. ASIC is running a month-long campaign, with other Commonwealth, state and territory agencies, to help consumers understand that by using credit repair and debt management firms they may end up paying high fees. Consumers should be aware these companies often…

Read More ASIC warns consumers about paying high fees for credit repair and debt advice services

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Financial counsellors welcome today’s commitment by the banking industry to better banking, including making financial hardship support programs more accessible and setting up a debt repayment service. But the big question remains: why is there still no funding for financial counselling? Most of the clients seen by financial counsellors have debts with banks, yet the…

Read More Financial Counsellors Welcome “Better Banking” … but Where’s the Funding for Financial Counselling?