Get Debt Free | Bankruptcy | Debt Consolidation | Specialist

How a Personal debt advisor can help you solve debt problems

Debt problems are nothing to be ashamed of and many of Australians have experienced them. With credit so easy to get over the past decade, and with the busy lifestyles we all lead today, it is entirely understandable that people sometimes find themselves in tricky debt situations. For some people however, the stress and pressure that can go with being in debt can be too much. Thinking about how to deal with their debts can create a lot of anxiety.  Some people ignore their debt and simply hope the problem will go away.  Unfortunately serious debt problems do not go away without professional help.

This is where a personal debt advisor can help. At Debt Free we have years of experience helping people deal with their personal debt problems and have a team of highly trained personal debt advisors ready to help. Our personal debt advisors are here to help you work out a plan to deal with your debt.

One of the primary reasons people should talk to someone with experience when dealing with their debts is that they may not be aware of all the options available to them. Many people we speak to think that their options are restricted to bankruptcy, but this simply isn’t true – there are several other options to consider.

A good personal debt advisor will be able to walk you through our debt solutions and explain the advantages and disadvantages of each. The debt solutions which are available to people with debt problems could include a debt agreement a personal insolvency agreement or debt consolidation (usually only for people with a good credit rating). You can learn a lot about these options online, in fact we have a lot of information right here on our website, but to really understand which debt solution is best for you it is best to call us or apply on-line

At Debt Free our personal debt advisors are experienced and professional and will always find the best debt solution to suit your circumstances. Remember our advice is free and you can also call our toll free line on 1800 98 10 70

Store Card Debt

Store card debt is becoming very common as store cards are becoming more popular with Australians. Many of the larger retailers like Myer and David Jones offer store cards. Store cards work like credit cards but the store card is restricted for use with the retailer that issues the card, which means you may not shop around for the best deal.

How do people develop store card debt?

People tend to incur store card debt more easily as they find the temptation to shop with their favorite retailer harder to resist. However, the interest on a store card is usually higher than credit card interest and it is therefore becoming more common for people to have store card debt problems. The average rate of interest for store card debt is usually above 20% p.a, which makes store cards significantly more expensive than credit card debt. The cost of interest on store cards can become very significant to the average household budget.

If you allow your store card debt or other debts (such as Credit Card Debt, Personal Loan Debt, or Finance Arrears) to mount up you may lose control of your personal finances and spiral into bankruptcy.

How can Debt Free help me overcome Store Card Debt?

The solutions we can provide may be:

The appropriate solution will depend upon your individual store card debt and financial circumstances.

We will assess your financial situation using our Best Advice Model and will recommend the most appropriate solution for you. We’ll discuss your situation in a strictly confidential and empathic manner. Our debt advice professionals will discuss your needs free of charge and our advice will be provided without any obligation.

Call Debt Free today so we can discuss what solution meets your needs.

Finance Arrears

If you have a secured loan or a HP agreement for a leased asset (for a car, boat, caravan or household goods) and you have arrears outstanding on the loan and other debts are mounting up (such a Credit Card Debt, or Personal Loan Debt, or Store Card Debt) which you cannot afford to repay you may need to consider a Debt Agreement or a Personal Insolvency Agreement.

If you allow the finance arrears and other debts to mount up you may lose control of your personal finances and spiral into bankruptcy.

The solutions we can provide may be:

The appropriate solution will depend upon your individual financial circumstances.

We will assess your financial situation using our Debt Advice Model with Income Contribution Calculator will calculate best Debt Repayment Plan and will recommend the most appropriate solution to meet your individual needs. We’ll discuss your situation in a strictly confidential and empathic manner. Our debt advice professionals will discuss your needs free of charge and our advice will be provided without any obligation.

Call Debt Free today Toll Free to see if we can help you solve your debt problems.

Credit Card Debt

Credit card debt has become alarmingly high in Australia.  The average credit card debt per Australian has now reached $3,251.  Australians spent 22 billion on credit cards in December 2009 which was a 10% rise. This was a record spend on credit cards. Australians now have a record debt level of $46.9 billion on credit cards.

If you have a credit debt balance of more than the Australian average you should have a professional review of your finances. Remember if you only pay the minimum balance each month your credit card debt will be attracting a very high rate of interest.  Most credit cards attract an interest rate of more than 18% p.a.  The cost of interest on credit card debt can be significant for the average household budget.

If you allow your credit card debt or other debts (such as Personal Loan Debt, or Finance Arrears, or Store Card Debt) to mount up you may lose control of your personal finances and spiral into bankruptcy.

If your credit card is at its limit and you can’t meet the minimum monthly repayments then you will most likely have a credit card debt problem which needs to be solved. We can help you assess if you can get out of credit card debt. Usually we can get you out of debt by recommending an appropriate debt solution product to suit your needs. Each solution is different and the appropriate debt solution will depend on your individual circumstances. The typical debt solutions are:

The appropriate solution will depend upon your individual financial circumstances.

We will assess your financial situation using our Debt Advice Model with Income Contribution Calculator will calculate best Debt Repayment Plan and will recommend the most appropriate solution to meet your individual needs. We’ll discuss your situation in a strictly confidential and empathic manner. Our debt advice professionals will discuss your needs free of charge and our advice will be provided without any obligation.

Call Debt Free today Toll Free to see if we can help you solve your debt problems.

Getting a copy of your credit report

Your credit report has information about you and your credit history. You should retrieve a copy of your credit report to check that the information is correct.

Credit reports can be ordered through My Credit File or Veda Advantage.

What about old or statute-barred debts?

You may have a defence against a debt if:

  • Long period of time has passed (usually 6 six years but it may be different depending on which state you live); and
  • No court action has been taken.

Debt collectors must act within the law when recovering debts. They cannot:

  • Use physical force;
  • Harass or threaten you;
  • Mislead or deceive you; or
  • Take advantage of your disability or vulnerability.

Disputing a debt

If you have been contacted regarding a debt you don’t believe is yours you have a right to dispute the debt or the amount of the debt.

When you make a reasonable request, debt collectors should be prepared to give you account information and copies of contracts.

I thought I settled that debt

Be aware a debt collector may contact you for a debt you may have paid in full. In this case explain to the creditor you have paid this debt and offer supporting documents to prove payment has been made.

When Negotiating a repayment plan

Creditors will often agree to an extended period for repayment if you are struggling to make a payment.

You may be able to negotiate a lump sum full and final offer with the creditor.

When you are offering a payment plan please much sure the repayment is sustainable given your budget as expenses may increase in the future.

Get Debt Free | Bankruptcy | Debt Consolidation
Get Debt Free Get Debt Free Credit Card Debt Stressed With Debt Personal Insolvency Personal Insolvency Debt Consolidation Bankruptcy Bankruptcy Debt Management Debt Management Debt Agreement Debt Agreement Get out of Debt