Get Debt Free » Personal Debt Problems

Store Card Debt

Debt Free Pty Ltd — Thu, 18 Feb 2010 04:23:49 +0000

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

Debt Free Pty Ltd — Thu, 18 Feb 2010 04:19:02 +0000

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

Debt Free Pty Ltd — Thu, 18 Feb 2010 04:17:40 +0000

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.

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

Getting a copy of your credit report

Debt Free Pty Ltd — Thu, 18 Feb 2010 04:16:26 +0000

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?

Debt Free Pty Ltd — Thu, 18 Feb 2010 04:15:25 +0000

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.