It is not uncommon for people struggling with debt in Victoria to go through a period of time where they attempt to minimize or ignore the issue. This can occur for many reasons, including stress, pressure, embarrassment, feelings of being overwhelmed, or even the feeling of having nowhere to turn.
While some people with debt may need to consider a Consumer Proposal or bankruptcy, there may be other ways to manage finances to be able to work through the current debt issues and to get back on track, maintaining payments and working down the debt load over time.
A Review of the Situation
Talking to a 4 Pillars debt consultant is a great place to start. These professionals provide a free initial consultation where the client meets privately and confidentially with the debt consultant.
At this meeting, the debt consultant can complete a brief assessment of your current financial situation. This is essential to allow the professional to make recommendations on the options you have to address the debt.
In many cases, when people in Victoria have a significant income, it is possible to work through debt issues by evaluating the current budget and financial management plans used by the individual or the couple. Making a few small changes, or sometimes some more significant changes can create a change in how quickly debts can be paid down without having to give up all extras in life.
Consider all the Options
Knowing the options is an important part of the process for all clients of the 4 Pillars. The debt consultant in Victoria will provide information on all options and take the time to answer questions and ensure a full understanding of the recommendations.
It is ultimately the decision of the client as to how to proceed and what is in the best interest. With education and information, making this decision is the first step in developing an effective way to tackle debt.
