Financial counsellors say ‘don’t wait’ to people with debt worries

“Don’t sit worrying about your financial problems. The sooner you start talking with a financial counsellor the better” says Vicki Borzi who heads up our financial inclusion team at Anglicare NT.

Vicki was on the radio recently talking about the National Debt Helpline, which is a 1800 number people can ring to start the ball rolling for free help with financial issues.

Why financial counsellors find solutions you can’t

“Financial counsellors don’t have an emotional attachment to the situation, which is an advantage. When you have someone on the outside, who isn’t worried about whether they are going to have a roof over their head tomorrow or whether they are going to be able to afford food and keep the lights on, it creates an opportunity to have an objective look at the financial situation and maybe suggest something that hasn’t been thought of, or wasn’t known about. It’s normal for people to get caught up in their own stuff and lose sight of a way clear.”

Topics covered in the interview

Vicki talked about lots of topics in the interview which you can listen to here, the key ones were:

• Budgeting – having honest conversations about how much money is coming in versus how much is going out, and how income can be stretched to cover all debts.
• Emergency relief – what Anglicare NT can offer in food relief.
• Mortgage stress – financial counsellors can talk to banks on behalf of people. This can be especially helpful when constant pressure from banks has lead to more mental health.
• Debt repayment plans – helping to set up manageable debt repayment plans that satisfy debtors.
• Loan options – exploring options when banks won’t lend but essentials are needed.
• Prioritising assets – how to keep essential assets when in financial trouble, and which assets can be used to pay debt.

Listen to Vicki’s full interview

Vicki Borzi
ABC Radio Darwin: Liz Trevaskis
October 18, 2024

More resources

Ring the National Debt Helpline on 1800 007 007 to talk to a financial counsellor

https://www.financialcounsellingaustralia.org.au/docs/financial-counselling-in-a-nutshell/

https://www.financialcounsellingaustralia.org.au/docs/what-does-a-financial-counsellor-do/

https://www.financialcounsellingaustralia.org.au/docs/how-does-a-financial-counsellor-help/