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Category: Debt Insights

How to Appeal a Centrelink Debt

Centrelink’s new data matching technology is sending out 20,000 debt notices every week. Inaccuracies are causing many to dispute their Centrelink Debt. The “Online Compliance Intervention System” matches data provided to Centrelink with data from the Australian Tax Office.   If there is a difference between Centrelink and the ATO, a debt notice is issued with […]

Time is Actually Different when you Owe Money

People in debt have different time frames compared to people who are not in debt.  Economists and psychologists have all pointed to the importance of the individual’s time frame in making financial choices.  Time frames for people in debt can be very short. For many the furthest into the future they can see is the […]

Unbelievable Debt Issues: Goons, Implants, Cheaters & More

We all experience challenging debt issues in our lives from time to time. Then there are those individuals who find themselves in extraordinary circumstances beyond belief!  We collected our biggest jaw dropping client issues from the last 10 years for your reading pleasure. Top 4 Unbelievable Debt Issues: Can they repossess my breast implants? A couple of […]

Being in Debt is a Full Blown Emergency

Everyday we hear how complacency with being in debt lands people in trouble.  Debt Agreement Administrator, ‘Ben Paris’ spoke with us about the rising debt issue, and how dire situations can be avoided: I’m constantly amazed at how blasé people can be regarding their debt. Personal insolvency is not something to “manage”, nor something to get “under control”. Debt […]

Ditch Debt with a New Mindset

For one moment stop thinking about what you need to ‘do’ in order to ditch debt, and focus on the way you ‘think’ about money.  If you’re busy making excuses as to why you’re in debt, then that is wasted energy.  How about putting that brain power towards taking action and changing your financial future!  Here […]

Surviving Debt and Suicidal Thoughts

We’ve all had money worries at some point in our lives. Some of us, more than others. The impact on your mental health because of financial problems can be severe: from suicidal thoughts to crushing financial depression. Continual money worries can begin to affect everything; from your relationships to your career to most importantly, your […]

5 Debt Management Questions You’re Too Embarrassed to Ask

Picking up the phone to speak to someone about managing your debt is never easy; especially when you’ve got questions you may be too embarrassed to ask. But as our own debt consultant Amanda Pfeifer knows, there’s no such thing as a dumb question. Amanda has been with us for more than three years and […]

Personal Debt Stress Skyrockets

A recent survey has found many Australian households struggle to deal with the financial pressure associated with personal debt. The survey, conducted by ME Bank, found that since December last year, the number of households grappling with debt had doubled. Many reported it would be a strain to meet their minimum debt repayments in the […]

The Emotional Effects of Debt

The number one cause of stress in Australia is personal finance. According to a 2015 survey conducted by the Australian Psychological Society, a staggering 49% of the population admitted personal finance was their main cause of stress over the last five years. Family issues came in next (45%) followed closely by personal health (44%). The […]

How to Manage Your Debt in 10 Minutes a Week

Ten minutes may not seem like a lot of time to manage your debt but that’s exactly the point. Setting aside just 10 small minutes each week — that’s two minutes a day, Monday to Friday — to manage your money could make a world of difference towards becoming debt free. Before you begin, you […]

Should you tell your kids about your debt?

Children and debt in the same sentence often sparks a lot of anxiety, especially when letting children know you had bad news to tell them can put them on edge. A lot of life as a parent is guesswork, trial and error and working out what is best and what works well in the household. […]

What actually happens if you don’t pay your debts?

Your credit card bill is due but you don’t have the money. You’re sure that something bad will happen, but what exactly will happen, and when? For the first 60 days nothing much will happen. You might get a helpful reminder to make a payment. Somewhere between 60 and 90 days the bank may issue […]

Debt Collection Stages

Most people have never been behind with debt before, and consequently have not had to deal with debt collectors or the courts. If you have debt collectors calling you and are in the process of having debt collected, you might be scared, confused and a little intimidated. Most people do not know what debt collectors […]

Australian Personal Debt Survey

The purpose of this debt survey is gain insight into the personal debt of Australians over 18 years of age. Ensuring our debt relief solutions align with today’s needs. At Debt Mediators we are always working to improve our financial solutions to debt. Peoples needs are constantly changing, and so is the way we provide assistance to individuals […]

How To Deal With Debt Collectors

Dealing with debt collectors can be very stressful. Most people don’t know what they can and can’t do and what they can and can’t say. Debt collectors use this to get away with activities that are often illegal or questionable. However, you’re fully within your right to contest actions that your creditors make. With the […]

5 Reasons you won’t ever be debt free.

You don’t know how much you owe – Really you don’t want to know. It’s a source of pain so you don’t look at it and pretend it will go away. You don’t know where your money goes – You earn money and by your next pay day it’s all gone, that’s as much as […]

11 Commonly asked Debt Questions

We’ve compiled the 11 most asked debt questions at Debt Mediators in order to help you with some of those answers you’ve been eager to hear. From your inheritance money, to your superannuation queries – we’ve got all of these debt questions answered. 1. I found out my spouse has a lot of debt but […]

Things a Debt Collector Can’t Do

If you’re in debt, it’s likely that you are worried about Debt Collectors. What can Debt Collectors do, you may be asking. What Debt Collectors can’t do may be more important to you at this point. You may have had experience with Debt Collectors in the past harassing or lying to you over the phone […]

Five Mistakes People Make When Managing Debt

Debt is something that affects a lot of Australians. The problem with debt has something to do with bad habits and poor budgeting. Despite how simple these things usually are, a lot of people seem to completely forget them and it can drown them in debt. We have narrowed down some of the most common […]

How Long Are You Really Going to Be in Debt?

Presently, it could take up to 11 years at the least, to pay off a standard credit card debt … Australians owe 38 billion dollars on their credit cards. The average person owes $4900 and paying back the minimum can mean that it takes 11 years to pay off your debt, with mmuch of that being […]

The Impact of Debt on Your Relationship

Problems with debt and marriage generally arise very soon in a relationship if one or the other partner is not honest with the other about their financial dealings or student loans. Another issue pertaining to debt and relationships include medical expenses incurred after the relationship has progressed for many years, and one or the other […]

Unsecured Debt Associated With Low Psychological Wellbeing

Research indicates that unsecured loans, such as credit cards, are causing high stress. A study in the Journal of Economic Psychology found that respondents with unsecured debt were less likely to report complete psychological wellbeing. Secured debt, like mortgages, where not associated with a decrease in psychological wellbeing, even if the debts were “large”. Possibly, […]

Debt Consolidation: The Pros & Cons

Many people have mixed feelings about debt consolidation and what it can do for them. Like many other things in life, this can be the ‘best’ step for every person who’s in debt.  It is different for each person and for each individual’s debt situation. It’s best to weigh up all of your options before […]

Four Behaviours of Low Financial Stress

Generally, most stuff that is written is, for lack of a better word, bull. This is not to say that the stuff is not interesting, but it just might not be true. If you want the facts, you need to find a peer reviewed journal article. Most financial writing is opinion, not fact. This is […]

Zombie Debt

We occasionally come across “zombie debts”, or debts that have come back from the dead. These zombie debts are frequently incurred during early life and come back to haunt you in later life, generally when you’re in a much different position such as wanting to settle down, getting married, buying a house, or having kids. […]