Australian Debt Solutions

Unmanageable debt can be crippling to a family or individual. The stress that can come from financial issues can be extraordinary. Asking for help is essential if what you have been doing to get out of debt is not working. Fortunately, throughout the country, there are numerous Australian debt solutions – both free and paid services.

Below are different debt solutions which can quickly help you get back on top of your finances and out of debt.

Firstly, regardless of what option you use to tackle debt, budgeting will be at the core of every debt solution. Be prepared to adjust a budget you already have or create a budget if you do not have one. Every reputable debt solutions provider will discuss a budget with you.

Government Assistance
There are numerous incredible government assistance programs to help with financial issues, whether they revolve around debt, benefits, grants and more.

If cash flow is a major area of concern taking advantage of benefits and grants can help with your monthly budget, providing more cash flow that can then be used to pay down debt.

 
See if You Qualify
The first thing you should do is see if you qualify for any government grants or benefits. There are a ton of benefits that are paid fortnightly or monthly for certain situations and then there are one-time grants that do not have to be repaid and then there are low or no interest loans that can help unburden some of the debt. By taking advantage of each of these options, you may be able to lift your debt load quickly on your own. Check out the Centrelink benefits calculator to see what you qualify for.

Government Benefits
There are a number of situations where you can qualify for a monthly benefit support payment. If you care for another individual that is elderly, or disabled you can receive a Carer payment. If you are raising a family on a low income there is a Parenting payment to help raise a family. If you live in a remote area of Australia or are an Indigenous Australian there are monthly benefits for that as well.

Have you lost your job recently? Because there is income support to help you until you find another job as well. Seniors in Australia also receive income support payments called an Age Pension if you qualify. As an Australian with a disability, there is a Disability Support Pension for those that qualify. Lastly if you are a student in Australia there are education payments that can ensure you have the basic necessities as you study in Australia.

Grants
However, there is also a number of one time payments that can help alleviate your budget in other areas so that you can work on your debt payments as well.

These government grants range in amount and cover almost all the same categories as listed above but target certain issues within each. Such as grants for new parents and adoptions, rent and telephone assistance grants for families, child care rebates, health cards for medical payments for seniors, education and retraining grants, relocation grants for job seekers and a lot more.

Loans from non-profits vs commercial lenders
The StepUp and NILS (No Interest Loan Scheme) loans offer a very low or no interest option for you. These loans are meant to purchase appliances, make home or appliance repairs and a number of other smaller purchases. They can often help take the pressure off your budget to allow a further focus on your debts.

 
Free Help With Debt
Beyond the government paid programs that offer financial assistance for living expenses. The government also funds professional financial counsellors who will provide free, unbiased financial advice on how to get out of debt.

Financial counsellors provide a number of services including negotiating with your creditors, setting up repayment plans, finding government grants or benefits and helping you with budgeting. Free legal aid can help in dire circumstances regarding large assets.

Paid Help With Debt
Another option for debt solutions can be a debt consolidation company, just be sure that you understand all the costs associated with the service. Other things to consider include checking review and complaints sites about the provider. In addition, sharing the plan or information provided from a paid service with a free financial counsellor is advantages. They will quickly be able to evaluate the plan and provide feedback on the pros and cons of the service.