In Australia, we’re pretty big on borrowing money. According to figures published by Finder, Australia takes the number four spot in the top five countries with the highest levels of household debt. So if you’re in debt, you’re certainly not alone in owing money. As long as you’ve got money coming in to meet all your financial commitments, including loan repayments, being in debt doesn’t have to be a problem.
But falling behind on those payments, or finding yourself juggling too much debt along with bills and rent, can lead to serious short and long-term financial stress. In this guide to getting out of debt you’ll learn about the steps you can take straight away to deal with debt problems. You’ll also find out what to expect if your debts or bills remain unpaid.