Many unfortunate circumstances can lead to non-repayment of a debt, such as illnesses, emergencies and other such disasters. While lenders do have a legal right to pursue a debtor, the debtor is protected from undue harassment and bullying from debt collectors.
Debt collector’s obligations
When a collector pursues a debtor, they must abide by certain rules and regulations, as set by the Australian Competition and Consumer Commission (ACCC) and Australian Securities and Investments Commission (ASIC). First and foremost, a collector can only initiate contact for a “reasonable purpose”, meaning a collector must …

A debt consolidation loan is generally considered a loan of last resort. By replacing multiple loans with a single loan (one that typically comes with a lower monthly payment over a longer repayment period) debt consolidation loans are appealing on the surface, but enormously complication beneath that otherwise shiny exterior.
Who Needs a Debt Consolidation Loan?
Debt consolidation loans are primarily intended for individuals or families struggling to manage any form of outstanding debt:
• Credit card debt
• Personal loan debt
• Mortgage or housing debt, etc.
Despite sounding like a highly attractive option that, based on incessant …

Debt negotiation is one tool in an arsenal of weapons you can use against your existing unsecured debt. Essentially, debt negotiation means that you contact your creditor and try to decrease the amount you owe by offering to immediately pay them a smaller lump sum. This will not only save you in the short term by only paying less of your outstanding debt, but will also erase future years of monthly payments.
How Does It Work?
While many individuals hire a professional debt negotiator to work on their behalf, you can also …