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Following consultation, ASIC has set a three-year period to be used by banks and credit providers when assessing a new credit card contract or credit limit increase for consumers. Reliable debt help in Australia can be difficult to come by, if you need help with debt, reach us on www.creditmediation.com.au

There’s hard medical facts correlating stress to physical health. People experiencing constant stress in their life are more likely to have cardiovascular problems, asthma attacks, liver issues, digestion issues, stomach ulcers and the list goes on. If you need help with debt, a debt negotiator could assist you.

Financial trouble is not necessarily characterised by major catastrophic events, like home repossession, it begins way earlier. If your living from pay cheque to pay cheque, it’s inevitable an unexpected life event will occur, like unemployment, and without savings you could be in real trouble. Sometimes it’s the case of not earning enough, more commonly however, you could make better short-term financial decisions that will benefit you in the medium and long-term future.

You can be forgiven in thinking the banks attitude towards the public is “We owe you no favours”, as the Royal Commission has revealed, they exercise this principle in many transactions. As a Financial Negotiator working in the debt negotiation industry, I have at times a not too friendly relationship with banks. However, we’ve observed a more positive side to the banks.

There are 3 simple rules in resolving any anxiety with arrears on your mortgage or credit cards, these golden rules will help ensure that any temporary financial slump won’t turn into a major financial crisis.

What we have learnt from past Royal Commissions is the Chief Commissioner can investigate wider elements from their core focus, for example, banks third-party relationships. Already, Malcolm Turnbull is urged to include the Superannuation industry in the Chief Commissioners enquiries.

The accounting industry is commonly insolvency centric when it comes to seeking out assistance for clients in deep financial stress. However, there is an explosion of interest in Debt Negotiations from all corners of the broadly termed financial industry -Accountants, Brokers, Planners and so on.

If your reading this article, the chances are you or someone you know have encountered a debt collector and you are searching out strategies on how to deal with it.

Using credit to pay credit is, simply put, a false economy. If left unchecked credit will at best enslave the debtor to a life of debt and at worse end in bankruptcy.

The accounting industry is likely to be the most disrupted due to blockchain technology, so it is vital that accountants get on board as soon as possible.