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Managing Debt

Every day we are encouraged to use credit: at the supermarket, in stores, when paying bills. Getting into debt can be easily done, as we try to meet our day-to-day needs. It can also lead to stress and confusion, and for people living with HIV these feelings can impact on physical and emotional health.

Fortunately there are professional services that can help with debt problems. They can explain the debt recovery process, speak to creditors and negotiate on your behalf. The following information explains what you can expect from a financial counsellor, how they can help and how to make an appointment.

Reasons people with HIV may get into debt

During times of crisis, as you try to maintain your living standards, or make yourself feel better, the temptation to use credit can be overwhelming. At other times, you may struggle to make payments because of sickness, problems with work, extra financial pressures and reduced income. Employment may become difficult to maintain and there can be problems or delays with pensions and other benefits. These income inconsistencies can create additional financial stress.

Don't beat yourself up if you've been having a bad time financially. You can take back control of your situation and there are professional services that can help you. Contact details are included at the end of this section.

Free services that can help

Financial counsellors can make sense of your financial situation and help you develop a plan to sort things out and manage in the future. If you authorise them to act on your behalf, they can also speak to your creditors and negotiate payment arrangements.

A financial counsellor can:

Help you understand your situation
Explain the debt recovery process; consumer and credit card laws
Help you prepare paper work
Speak to your creditors for you, if you want them to
Give you information about government benefits
Help you to manage your income.

What to expect
At an appointment with a financial counsellor, bring all the paperwork you have about your current debts and living expenses such as: bills, letters, credit card statements, tax assessments and rent receipts. You will also need to bring proof of your income: either the most recent Centrelink income statement, or current payslip if you are employed. Your first appointment will usually last around an hour and a half. After that, if you need more appointments, they'll take about an hour.

BGF Financial Counselling

BGF Financial Counselling is for all people with HIV, whether on a pension or working. If you are living with HIV and have financial problems - such as unpaid bills or credit card debts - you can have a free, confidential chat with a BGF Financial Counsellor. Make an appointment by calling BGF between 9.00am and 5.00pm, Monday to Friday.

Tel: (02) 9283 8666

Email: bgf@bgf.org.au

Web: BGF also produce a series of Factsheets that can help you take control of your finances

Consumer Credit Legal Centre

The Consumer Credit Legal Centre offers financial counselling information, advice and referral five days a week to consumers in NSW. Call the Credit and Debt Hotline between 9.30am and 4.30pm, Monday to Friday.

Tel: 1800 808 488 or (02) 9212 4111

Web: www.cclcnsw.org.au