Blog
Am I Responsible for Someone Else's Debt?
Posted on: 22 April, 2019 . By: Debt Fix
Many people worry that getting married, being in a long-term relationship or the death of a spouse means they will be liable for their partner's debt. This is not the case, but there can be certain situations where you agree to share or take on all the responsibility. If creditors are demanding tha... Continue reading
Should I Take Out a Loan to Pay Off My Credit Card?
Posted on: 08 April, 2019 . By: Debt Fix
Australians owe around $45 billion in total credit card debt. Many people are trapped in a vicious cycle of debt with cards charging interest as high as 20%. If you're struggling under the weight of debt, paying off your credit card with a personal loan at lower interest could leave you better off,... Continue reading
Will Bankruptcy Clear All My Debts?
Posted on: 20 March, 2019 . By: Debt Fix
If you're trapped under a mountain of debt that you can't repay and being hassled by debt collectors, bankruptcy may seem like an attractive solution for wiping the slate clean. However, like any major decision, it needs to be researched carefully to make sure you know the risks. When you go bankru... Continue reading
Good Debt vs. Bad Debt: What Type Do You Have?
Posted on: 06 March, 2019 . By: Debt Fix
No one likes to be in debt, but debt is a necessary fact of life for most Australians. Whether you're buying a home, going to university or starting a business, loans are often the only way to access the urgent finance you need to move forward in life. On the other hand, some types of debt can be l... Continue reading
Credit Card vs. Personal Loan: Which Is More Affordable?
Posted on: 26 February, 2019 . By: Debt Fix
Whether it's paying for a holiday or Christmas gifts, Aussies are prone to reach for their credit cards when they need some extra cash. According to data from the Reserve Bank of Australia and Finder.com.au, the nation spent a total of $29.7 billion on credit cards in December 2018 alone, or $1,863... Continue reading
Do You Have These Bad Credit Card Habits?
Posted on: 12 February, 2019 . By: Debt Fix
Most Aussies use their credit cards unwisely, according to a recent survey of 1,000 credit card holders by Members Equity Bank. 70% of people admitted to at least 3 out of 7 common bad habits that can lead to expensive charges, higher interest rates and spiralling credit card debt. For Millennials ... Continue reading
7 Tips for a Debt-Free Christmas
Posted on: 17 December, 2018 . By: Debt Fix
If you're already struggling with debt, Christmas can be the most stressful time of the year, especially if you feel pressured to buy gifts you can't afford and run up even more debt. According to the National Retail Association (NRA), Australians spend more than $1 billion a day on Christmas shopp... Continue reading
How to Cope with Record Household Debt
Posted on: 03 December, 2018 . By: Debt Fix
While many developed countries have seen debt levels declining in the decade since the global financial crisis, Australia's personal debt is today among the highest in the world compared to GDP. According to the latest OECD data for 2016, Australians owe a combined $2 trillion of personal debt, wit... Continue reading
Australia's New Credit Card Restrictions Protect Borrowers from Spiralling Debt
Posted on: 16 November, 2018 . By: Debt Fix
If you've heard about the changes to credit card rules that are being introduced this year in Australia, you might be wondering how they apply to you. The good news is that these reforms are designed to protect consumers by preventing banks, credit card companies and other lenders from using disrep... Continue reading
Don't Let Your Wedding Drive You into Debt
Posted on: 02 November, 2018 . By: Debt Fix
Social pressure for 'Instagram perfect' weddings is leading many Australian couples to begin their married lives deep in debt. Overspending on the big day can have consequences many years down the line if you don't plan and budget carefully, especially if you're already struggling to pay off a mortg... Continue reading
