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Financial Counselling Australia (FCA) is reminding those who may be impacted by Cyclone Alfred, there is free financial counselling available. “Weather disasters can lead to unexpected financial problems, and some may find themselves in financial hardship,” said Louise Hayes, FCA’s National Coordinator of Disaster Recovery. “It’s important to know there are financial counsellors who can…

Read More Free financial counselling available to those impacted by natural disasters

SCAM ALERT

The National Anti-Scam Centre is warning Australians that criminals are impersonating charities and offering fake financial assistance schemes to target people experiencing financial hardship.  No Interest Loan Schemes are offered by trusted charities such as Good Shepherd and the Salvation Army and are intended to support low-income earners and people in hardship who are experiencing…

Read More People in Hardship Targeted in Criminal Financial Assistance Scams

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Mandatory code of practice, subsidies for food transportation and increased income support needed A coalition of consumer and indigenous groups is calling on the National Indigenous Australians Agency (NIAA) to better protect vulnerable residents in remote areas. The organisations have welcomed the proposed National Strategy for Food Security in Remote First Nations Communities, but they…

Read More Consumer Groups Call on NIAA to Strengthen Remote Food Security Strategy

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With ongoing cost of living pressures impacting household budgets, the Consumer Affairs Victoria has come up with some tips to help you become an informed and savvy consumer and to save some money along the way. When you shop, think carefully before you buy. Learn more about consumer guarantees here. Save at the checkout by…

Read More Top Consumer Tips to Beat Cost of Living Pressures

Money Yarns, Stronger Futures The consumer, credit and debt issues of First Nations consumers in Victoria. Integrated Practice Project Report 2021-2023

The Consumer Action Law Centre has today released a groundbreaking report titled Money Yarns, Stronger Futures. The report amplifies the voices of First Nations people, sharing their personal experiences to shed light on the significant challenges they face in achieving financial prosperity. Money Yarns, Stronger Futures not only highlights these challenges but also offers bold recommendations for both…

Read More Money Yarns, Stronger Futures – Highlighting Challenges and Bold Recommendations

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New laws regulating Buy Now, Pay Later (BNPL) have been announced today. Consumer groups respond as follows: Quotes attributable to Stephanie Tonkin, CEO of Consumer Action Law Centre “We welcome the Albanese Government’s new laws that regulate Buy Now, Pay Later as credit and introducing consumer protections. “Every day we speak to people in financial…

Read More Consumer Groups Welcome New Credit Regulations for Buy Now, Pay Later

Infographic on the ASIC report. Infographic and text-only version can be found at https://asic.gov.au/about-asic/news-centre/find-a-media-release/2024-releases/24-104mr-asic-report-australians-need-better-hardship-support-from-their-lenders/ Infographic on the ASIC report. Infographic and text-only version can be found at https://asic.gov.au/about-asic/news-centre/find-a-media-release/2024-releases/24-104mr-asic-report-australians-need-better-hardship-support-from-their-lenders/

Some home loan lenders have made accessing financial assistance so difficult that more than one in three (35%) Australians dropped out of the application process at least once, according to a new ASIC report. The report, Hardship, hard to get help: Lenders fall short in financial hardship support (REP 783) outlines findings from ASIC’s review of 10…

Read More ASIC Report Highlights Industry Hardship Failures

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ASIC is warning consumers about an increase in the sophistication of fake bond and term deposit scams where scammers are impersonating little-known legitimate financial services businesses, often those without a website or digital footprint. Scammers are mirroring real businesses’ disclosure documents, addresses, International Securities Identification Numbers (ISINs), Australian business numbers (ABNs) and Australian financial services…

Read More Scam Alert Issued by ASIC as Scammers Change Methods

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More Australians will now have access to support from financial counsellors with the launch of the Financial Counselling Industry Fund (FCIF). The FCIF is the result of a collaboration between the financial counselling sector and a number of industries and companies – Australian Banking Association member banks, Australian Energy Council, Energy Networks Australia, Insurance Council…

Read More Financial Counselling Industry Fund Launches

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Australians struggling with debt and cost-of-living pressures are turning to free and independent debt helplines in their thousands. Calls and chats to the National Debt Helpline (NDH) and the Small Business Debt Helpline (SBDH) have soared over the past 12 months. Both services are coordinated by Financial Counselling Australia. “In February NDH dealt with 14,871 enquiries. That’s a 17%…

Read More Cost of Living Crisis sees more calls to Free Debt Helplines

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First Nations and other consumer advocates have welcomed the extension of ASIC’s interim Stop Order on Coral Coast Distributors (Cairns) Ptd Ltd trading as Urban Rampage (Urban Rampage) retail stores, where customers enter agreements to pay for goods on credit through Centrepay deductions. The original stop order was imposed because ASIC received complaints about Urban…

Read More Continued Ban of Business Centrepay Use in Remote Australia Welcomed as Advocates Call for Broader Centrepay Reform