Do you know what financial counselling is?
Financial counsellors are an excellent resource when facing financial difficulty. Perhaps you’ve recently become redundant, or someone in your family has become sick – meanwhile, the bills still keep coming in. Anyone can find themself in financial difficulty. Regardless of the reason, a financial counsellor will be able to help.
Most work for community organisations and provide free, confidential services that are nonjudgmental. Their job is to listen to your story, understand your financial position and help you look at the various options you have.
It may seem difficult to believe that there are such options while you’re in the middle of a storm, but a financial counsellor will help provide third-party, objective advice according to your situation. For example, they could advise you make an application to a credit provider for a hardship variation and ask to make small repayments on debts. Or they might suggest a one-off lump-sum payment if the lender will accept it and write off the rest of the debt.
You can also get information about your credit report and what you can and can’t do, learn how to access assistance to help pay electricity and/or water bills or decide whether filing bankruptcy is the right choice for you.
They can also look into the legality of a debt – whether you actually owe it at all, or if the amount the credit provider says you owe is incorrect.