Let's Talk about Debt Blog

What is an Informal Arrangement and what does it do?

Informal Arrangements are quickly becoming one of the most popular forms of debt relief. Whilst there are many different kinds of debt help out there, it’s hard to know which solution is right for you. We’ve previously written about Debt Agreements and if they are a viable solution for you. This week’s blog is looking at Informal Arrangements, what they are and if they are the right solution. What is an Informal Arrangement? An informal arrangement is just that, an informal arrangement between you and your creditor to pay back your debts under new terms. A viable source of debt […]

Is a Debt Agreement the right choice for me?

Debt Agreements, Informal Arrangements, Debt Negotiation and Debt Consolidation. These are all terms which are frequently thrown around when you begin trying to access debt help. It’s hard to know which solution is right for you, and which solution will provide the best outcome for you. To help you out, we’ve put together a rundown of what a Debt Agreement is; A Debt Agreement is commonly called a Part IX Debt Agreement It is a legislated debt solution housed under Part 9 of the Bankruptcy Act 1966 It freezes all interest and charges on the debts included in the agreement […]

Retirement and debt – a cause of financial hardship

More Australians are facing retirement with debt looming over their shoulders. With increased debts, comes increased financial hardship in the years which are meant to be stress free and fun. According to a recent study, Australians are entering their twilight years with about $150,000 in mortgage debt. In fact, another lot of research found that for those over 65 non-mortgage debt only makes up around two thirds of their overall debt. If that’s the case some people are easily entering their later years with over $450,000 in debt! How will I ever be able to retire? It’s never too late […]

Your debt is costing you more than money

On the internet you read plenty of blogs with people promising you help with debt, but very few of these blogs focus on the non-financial impact of debt. According to an article earlier this year, there is a clear link between your financial health and your mental health. In fact, the more debt you carry the worse your overall health probably is. Here at Debt Cutter we constantly talk to people whose debt has spiralled out of control.  We were able to help with debt in their circumstance, but many people believe just because they aren’t struggling, they aren’t being […]

How to deal with a financial curveball

Many of us may think we have a bulletproof budget strategy to deal with unexpected costs, but the truth is; life gets in the way. We can’t always be ready for what’s thrown at us. While many people have the mentality that “nothing bad will ever happen me”, it’s not always smart to think like this from a financial point of view. From children’s medical bills, to higher insurance premiums, to repairing a smashed iPhone screen, there are things in life that come with an unwelcomed bill, and we need to know how to cope with these unexpected costs. A […]

Our top 5 blogs to get out of debt

How do you get out of debt? It’s something every man and his dog seems to have an opinion on. There are also lots of guides and experts which have their own 7 step processes on how to get out of debt. It’s easy to get lost and confused, so we thought we would compile our list of our 5 top blogs on getting out of debt and back on track to financial freedom. These five blogs focus on tips and trick you can use and implement in your everyday life to help make changes to your financial situation. Blog […]

Our lack of self-control is costing us

Our lack of self-control us costing us; it’s costing us big. At the time of writing this blog our national credit card debt stood at $32 billion – that’s an average of $4,300 for every single credit card holder. That’s a lot of money to owe, and if we owe this much, it’s not surprising so many people need help with debt. A chunk of this $32 billion would be non-impulse purchases, I am sure a bunch of it is. So we are asking the question, is impulse spending ie. lack of self-control costing us big? The answer is yes. […]

The dream of owning your own home is dead

It’s the great Australian dream, owning your own home, but it is a dream less and less Aussies are likely to realise as home ownership becomes a faraway dream, rather than a reality. With a quarter of all households stuck in the rental market, the dream of owning your own home is becoming impossible for many Australians. The news gets even worse, if you are between 25 – 34, 51% of you are stuck in private rental accommodation. How are we ever meant to be able to afford a home? If you listen to the older Baby Boomer generation it […]

Are your bad habits costing you thousands?

Financial hardship, it can happen to anyone, but is it something we can avoid? Financial hardship is something, that with a bit of planning, you can reduce the impact of, so it doesn’t impact your family as much. Whilst many people leave things until it is too late, there is no time like the present to make these changes in your everyday life. It is possible to get some extra money behind you without having to sacrifice too much from your everyday life. Here are 5 bad habits, which are costing you thousands.   Habit 1: The water obsession According […]

9 strategies to deal with financial stress

If we could have a virtual show of hands for all of you who have experience financial stress, you’d be able to see that you are not alone. So you’ll just have to trust us when we say you’re definitely not alone in this circumstance. This is the affliction of the...

Stress Reduction Before Managing Finances

Managing finances isn’t everyone’s cup of tea. Reducing your debt may be high on the priority list but is often put in the too hard basket. On a ‘want to do’ basis its probably up there with folding laundry or vacuuming the car. Most of you know what I’m...

Thinking about Debt Stress the Wrong Way?

Stress caused by your debts can have very real effects on your health and emotional wellbeing. Possibly leaving permanent damage that may require medical attention costing you more money. But perhaps a change of beliefs could affect a change of stress symptoms. Stress...