Other support for debt and bankruptcy

Other organisations that can help

Consumer Action Law Centre

Consumer Action Law Centre gives free legal advice and representation to vulnerable and disadvantaged consumers across Victoria. You can ask a legal expert for advice about whether you have grounds to dispute a debt or read their self-help kits and fact sheets about dealing with debt and debt collectors.

See the Consumer Action Law Centre's videos for more information about their services and how they can help you.

Other legal services

Your local community legal centre can give you legal information and advice. Most services are free.

You can also find a private lawyer near you through the Law Institute of Victoria’s Legal Referral Service. All law firms included in the Legal Referral Service provide a free 30-minute interview. You can use this interview to understand more about the legal issue and discuss the available options and how much they will cost. Note that the free interview is not 30 minutes of free legal advice. It is very important that you bring your referral letter to your appointment.

We recommend that you contact the Law Institute of Victoria before making an appointment with a private practitioner.

Financial counsellors and financial information

Financial counsellors offer free, confidential and independent advice to people who are in financial difficulty.

A financial counsellor can:

• explain what options you have to clear your debts
• explain your rights
• help you prioritise your debts
• negotiate with creditors on your behalf.

It can sometimes take a while to get an appointment with a counsellor, so it’s important to contact them as soon as possible – don’t leave it till the last minute.

Money Smart has a free financial counselling hotline or you can search for a financial counsellor near you.

National Debt Help

The National Debt Help website has step-by-step guides on how to tackle common debt problems. You can also call National Debt Help on 1800 007 007 to speak to a financial counsellor. They can refer you to a financial counsellor in your area if you need more help.

Money Smart

ASIC’s MoneySmart website offers free, trusted and impartial financial guidance. It has tips and tools to help you make better financial decisions and calculators to help you work out your budget.

Mortgage stress

Mortgage Stress Victoria offers free legal advice, financial counselling, and social work for people who have a mortgaged property in Victoria and are experiencing money troubles.

Watch out for dubious offers of help

Complaints about banks

You should be familiar with your bank accounts and know the fees and charges that apply for services like using an ATM. You must also have a full understanding of the terms and conditions of your accounts.

Most banks have complaints processes. You should try to resolve your problem with the bank first. If you are unhappy with the outcome, the organisations listed on this page may be able to help.

Complaints about financial services

The Australian Securities and Investments Commission deals with complaints about misconduct or illegal activity by companies and the financial services industry. This includes complaints about insurance companies, insurance brokers, superannuation funds and financial advisers. Their MoneySmart website explains how to complain about your financial problem.

The national Australian Financial Complaints Authority deals with complaints about financial services including banking, credit, loans, general insurance, life insurance, financial planning, investments, stock broking, managed funds and pooled superannuation trusts.

They provide free dispute resolution for consumers and some small businesses who are unable to resolve a dispute directly with their financial services provider. This is an alternative to court proceedings. Decisions can be binding on participating financial services providers.

Australian Financial Security Authority

The Australian Financial Security Authority administers personal insolvency laws. It can supply you with all the necessary bankruptcy papers and refer you to a financial counsellor or other appropriate body for assistance. You can call the Australian Financial Security Authority from anywhere in Australia on 1300 364 785.

Financial Ombudsman Service

The national Financial Ombudsman Service deals with complaints about financial services including banking, credit, loans, general insurance, life insurance, financial planning, investments, stockbroking, managed funds and pooled superannuation trusts.

The service provides free, accessible dispute resolution for consumers and some small businesses who are unable to resolve a dispute directly with their financial services provider. External dispute resolution processes can help to resolve disputes through negotiation or conciliation as an alternative to court proceedings and can make decisions that are binding on participating financial services providers.

See a list of all our free publications and resources.

Resources from other organisations

• Youthlaw has a collection of fact sheets and information on consumer credit and debt issues(opens in a new window).
• The Energy and Water Ombudsman (Victoria) website(opens in a new window) has information and resources about energy and water issues, providing Victorian customers with free, accessible, informal and fast dispute resolution.
• Australian Securities and Investments Commission (ASIC) guide to Dealing with debt collectors: know your rights, what to do and how to get help(opens in a new window).
• Australian Financial Security Authority Personal insolvency information for debtors publication(opens in a new window) contains information about what to do if you are finding your debt unmanageable, including bankruptcy and other formal options.