Debt management is not as difficult as many people think. At Australian Lending Centre we are the specialists in helping you navigate the confusion and stress of managing your debt. We can negotiate with your creditors and find a way forward for you. It may be a debt consolidation solution. You may need a debt agreement. However you decide to move forward, Australian Lending Centre will be there each step of the way. We support you through the debt management process. The articles in this section articles will give you all the information you need to make an informed choice about how to manage your financial situation.

Tips to Avoid Debt this Christmas

Every year the Christmas holidays could be considered as the most expensive shopping season. That is because consumers usually spend so much during this period as giving gifts has been synonymous to the spirit of the season all across the globe. Of course, buying presents come with specific price tags.

Are you ready to once again spend a fortune this Christmas? You do not have to, if you would be more frugal to manage your money this holiday season. Do not spend way beyond your budget set for Christmas shopping. Otherwise, you may end up accumulating more debt that you would take care to repay months after the season. Here are five ideas on how to manage your money this Christmas holiday season so you would not end up being in debt. […]

By |October 14th, 2011|Categories: Debt Management|Tags: , , , , |Comments Off on Tips to Avoid Debt this Christmas

How to Avoid a Default

It is a mortal sin for every loan borrower to fall into a default. That is because doing so would lead to bigger trouble. If you default on a loan, your loan provider may take various types of action, which might all be disadvantageous to you. First, you may face the burden of litigation. Second, you may be imposed with more penalties. Third, your collateral might be repossessed. And lastly, your credit history would surely be eroded. […]

By |August 6th, 2011|Categories: Debt Management|Tags: , , , , , , |Comments Off on How to Avoid a Default

Australian Household Debt Increasing

According to the latest household debt information from the Australian Bureau of Statistics, average debt for each household is now at $50,500. It is up to 34% higher compared to the household debt average on the preceding report. This clearly indicates that household debt across the country continues to rise.

It is sad to note that debt has now become a part of living. Needless to say, it contributes to daily stress in the lives of numerous Australians. It even affects overall health and happiness. To be able to fully understand rising household debt so that proper strategies could be employed to control it, there is a need to analyse the possible causes. […]

By |July 29th, 2011|Categories: Debt Management|Tags: , , , |Comments Off on Australian Household Debt Increasing

Reserve Bank Issued Personal Debt Warning

It is an obvious statement that all is not as well as it could be at the moment for many economies around the globe. This week has seen shock waves in the US market with the collapse of financial powerhouse, Leyman Brothers.
In a speech to business leaders in Sydney this week, Glenn Stevens, Governor of the Reserve Bank, said Australia has been affected by the global credit crunch, but much less than other countries.

Mr Stevens said the massive rise in household debt over the past 15 years may be coming to an end and could be replaced by a rise in government borrowing to fund infrastructure projects.

“There is also a chance, it seems to me, that households might seek to contain and consolidate debt for some time,” he said. […]

By |May 24th, 2011|Categories: Debt Management|Tags: , , |Comments Off on Reserve Bank Issued Personal Debt Warning

Government Survey Gives Insight into Australian Debt

It seems Australians are not entirely money-conscious when it comes to entering into debt, as a recent Federal Government report has found.
The latest survey conducted by the Financial Literacy Foundation has divulged details about the general attitudes towards credit and debts amongst the Australian population.

The nationwide survey found, 21% of respondents will get into debt by buying things they cannot afford, and 17% pay only the minimum amount owing on their loans. […]

By |May 24th, 2011|Categories: Debt Management|Tags: , , , , |Comments Off on Government Survey Gives Insight into Australian Debt

Australian Households Struggle Under Mounting Financial Pressures

Australian households are feeling the financial strains of the global economic crisis as the Christmas season draws to a near. With oil prices still high, the Australian dollar buying fewer than 70 US Cents, and economies around the world slowing, the trickle down effects are showing.
Living costs are at a record high, grocery prices both on the rise. Christmas often stretches the family finances further, making it even more difficult to make ends meet. […]

By |May 24th, 2011|Categories: Debt Management|Tags: , , , |Comments Off on Australian Households Struggle Under Mounting Financial Pressures

Debt Snowballing – Debt Repayment Strategy

Debt snowballing is a method of debt repayment that may be used to clear a number of debts together. With this method of debt repayment, the lowest debt is the one that is initially concentrated on and eliminated first.
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By |May 24th, 2011|Categories: Debt Management|Tags: , , |Comments Off on Debt Snowballing – Debt Repayment Strategy

Home Loan Stress reduced by Stimulus

In April 2009 mortgage stress dropped by 2.8% indicating that the recent Government stimulus payments were most likely used towards home loans.
The total number of households struggling with home loan repayments fell to 568,000 compared with a peak of 900,000 in August 2008.

The stimulus payments have had a noteworthy and positive impact for those who are finding it difficult to make payments on their home loans. However the positive outcome is only temporary and by the end of the year, we may see similar circumstances to those prior to the stimulus packages, especially as we see unemployment rates continuing to rise. Another 400,000 homes could be in severe stress if unemployment reaches 7.5% by the end of 2009.

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By |May 23rd, 2011|Categories: Debt Management|Tags: , , |Comments Off on Home Loan Stress reduced by Stimulus

Australia is a Cash Based Society

The Reserve Bank of Australia has conducted a recent study that indicates that Australia is still a cash based society. However it is not to be overlooked that the use of credit cards continues to rise.
The RBA study of consumer payment behaviour found that cash accounts for 70% of all transactions. EFTPOS, MasterCard, and Visa Debit Card payments make up 15% of all transactions followed by MasterCard and Visa Credit Card transactions at 9%. Only holding 1% of total transactions is American Express and Diners Club cards.

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By |May 23rd, 2011|Categories: Debt Management|Tags: , , , , |Comments Off on Australia is a Cash Based Society

Debt is a Powerful Trap

Debt is one of the most hazardous forces to confront in the world of personal finance. It has destroyed many people’s lives in the past couple of years along with the global financial crisis, interest rate hikes and unemployment rates higher than ever.
Government statistics show that total insolvency activity in Australia rose 11% (36,479 cases) last financial year. Most of these were bankruptcies and 86% of bankruptcies were non-business related, therefore they were for personal reasons.

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By |May 23rd, 2011|Categories: Debt Management|Tags: , , , |Comments Off on Debt is a Powerful Trap