Government help consolidating debts

Quick view – See loan and benefit options for specific circumstances here.

Below are multiple loan and money assistance programs for those on Centrelink Micro Loans through Specialist Lenders: As the name suggests, these loans are for small amounts, and to meet any sudden emergencies or urgent needs.

These concession amounts are usually lesser than the above sums.

If you are an existing user of Centre Link, you might be able to get an advance payment on your regular monthly payments.

This is paid out as a lump sum and is adjusted against the regular monthly payments, so that you don’t end up in further debt, as you will when you borrow from a conventional source like a bank or lender.

If you are dealing with financial hardship and are not collecting Centrelink benefits, find out how much financial assistance you or your family may qualify for through the Centrelink benefits calculators.

Community Initiatives: In many states and even some cities of Australia, government initiatives have inspired or assisted with many non-profit community initiatives and cooperative societies that help low income group members with micro loans and even financial counseling to get out of the debt cycle.The 3 fund are the Royal Australian Navy Relief Trust Fund, the Australian Military Forces Relief Trust Fund and the Royal Australian Air Force Welfare Trust Fund.Fairloans: Like Step Up, this is a non-profit partnership with the Nab that provides low interest loans for people who are having troubles qualifying with a bank.If you are behind on your water, phone, gas or electric bill, you can contact your provider to negotiate new repayment terms – simply ask to speak to a hardship officer.Some charities will also provide vouchers to help with utility debt, especially to keep the power running.

Search for government help consolidating debts:

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In addition, you can qualify for other financial benefits that include low income concession cards or an Advanced payment. Things to consider before applying for a loan – Understanding Approval Criteria General eligibility for main stream lenders may include the following: – Must be 18 years or older (proof with ID) – Be an Australian resident (proof with ID) – Earn a minimum net income of around $25k a year (this may slightly vary based on lender).

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