Financial harship Laurence Hugo is the director of Credit Mediation Service Pty Ltd, negotiation specialist assisting consumer and commercial entities with debt problems.   Communication This can make all the difference when dealing with the bank. If your bank does not know why your account is in arrears then they’ll follow an operational procedure in […]

Some banks are better than others, in terms of Hardship Assistance, Commonwealth Bank (yes, Commonwealth Bank) in my view lead the bunch in quality service, with Westpac a close second. There are inconsistencies in how the banking industry interpret the Hardship Laws and how they flex their Hardship Policy in case by case events. Take […]

Financial trouble is not necessarily characterised by major catastrophic events, like home repossession, it begins way earlier. If your living from pay cheque to pay cheque, it’s inevitable an unexpected life event will occur, like unemployment, and without savings you could be in real trouble. Sometimes it’s the case of not earning enough, more commonly […]

Laurence Hugo is the director of Credit Mediation Service Pty Ltd, negotiation specialist assisting consumer and commercial entities with debt problems and debt negotiations. If you feel like you’re over your head and you need guidance with the banks, contact the author: Laurence Hugo 1300 490 030, [email protected], www.creditmediation.com.au Some Australians live comfortably with extraordinary […]

Author: Economist Martin North www.digitalfinanceanalytics.com From 1 January 2019, under the revised responsible lending obligations, a credit card contract or credit limit increase must be assessed as unsuitable if it is likely the consumer would be unable to repay the credit limit within this period. The three-year period will apply to all classes of credit card […]

DOCUMENT 12 Ways to deal with Debt Collectors

Bills are piling up, and you’re waiting for your next payday so you need debt help. You need to pay your rent, buy food and keep the electricity on. At this point, your credit card payments are probably the last thing on your mind. you might need debt negotiators to assist you. While it may […]

This article is sourced from Get Your Credit Score, If you would like further information on your credit score, follow the link to getcreditscore.com.au  Step 1: Pay your bills on time Late or defaulted repayments are a credit score killer! Thankfully, it’s an easy one to fix. Now that comprehensive credit reporting is here, paying your bills on […]

When I built my first budget several years ago, I knew approximately how much money I was making annually, but I had never broken down my expenses by category to figure out what I could afford on a recurring basis, or how much money I could regularly invest. 1. Know How Much You Have If […]

1. You’re more prepared in case of an emergency. If you’re already saddled with debt, then an emergency may end up pushing you into declaring bankruptcy. Meanwhile, if you have no debt, then taking out a loan in order to deal with a sudden tragedy won’t end up destroying your life. 2. Being out of […]