The Law Handbook 2024

388 NOTE Content current as at 1 September 2023. Telephone numbers are within the 03 area code unless otherwise stated. What is a financial counsellor? Financial counsellors are highly skilled professionals who provide assistance, advocacy and information to people experiencing financial difficulty or who have problems with debt. Financial counsellors are independent, their services are free, and they are bound by law to keep matters relating to your finances confidential. Most financial counselling services are funded by state and federal governments. Financial counsellors are trained to look at your financial situation (e.g. your income, expenses, assets and debts) and identify options you have to manage your situation. Financial counsellors can provide the following support to their clients: • advise and assist with problems related to debt and debt enforcement; • advocate and negotiate with banks and other lenders; • assist with concessions, grant eligibility and applications; • assist with lodging complaints to external dispute resolution services; • refer to community, health and legal services; • provide information about consumer rights. Financial counsellors do not : • lend money (this includes paying debts and pay- ing bills); • complete tax returns; • take over your finances; • recommend any kinds of loan products; • provide debt consolidation services; • provide financial product advice; • deal with investments. National financial counselling services National Debt Helpline Tel: 1800 007 007 (Monday to Friday, 9.30 am to 4.30 pm) Web: ndh.org.au The National Debt Helpline is a not-for-profit service that is available nationwide. Professional financial counsellors provide free, confidential and independent financial advice. The National Debt Helpline does not loan money, but provides the following: • free financial counselling over the phone : financial counsellors can help anyone in Australia over the phone; the counsellors can assist with a wide range of financial troubles, such as difficulty paying utilities bills, mortgage stress, problems paying rent, and trouble repaying credit card debt; • referrals : if necessary, the financial counsellors can refer you to a face-to-face financial counselling service near your home; the counsellors will also put you in touch with any other services you may need (e.g. legal services, crisis food and accommodation services, and health services); • a comprehensive website : the National Debt Helpline website provides information on key areas that can cause financial problems (e.g. housing, cars, utility bills and product rentals). The site also provides advice on how to manage debt. Small Business Debt Helpline Tel: 1800 413 828 (9.00am-5.30pm weekdays) Web: sbdh.org.au/ A national support line staffed by specialist small business financial counsellors, offering immediate assistance and referral for ongoing support. Moneysmart Web: www.moneysmart.gov.au Moneysmart is run by the Australian Securities and Investments Commission (ASIC); ASIC is an agency of the Australian federal government. The Moneysmart website provides free and independent financial guidance and financial tools (e.g. a step-by-step guide on how to set-up 5.4 Financial counselling services Compiled by Fitzroy Legal Service