Quick Quote
One simple enquiry form gives you fast access to quotes and rate comparisons from Australia's leading and best known debt consolidation specialists.
All quotes are supplied to you free and without any obligation. We respect your privacy.
Knowledgebase
Mortgagor:
A person who offers to assign an asset as security (e.g. real estate) under a mortgage loan contract. The lender (mortgagee) holds the legal ownership of the security until the loan is repaid and the mortgage is discharged.

Struggling with your Mortgage?
We can help reduce you monthly payments and pay less interest ... fast and easy!
Click for details

Free Debt Management
Need some advice on managing your debts? We can help you.
Click for details

Compare Debt Consolidation
Shop multiple lenders for best offers. Free online eligibility assessment.
Click for details

Drowining in Debt?
Let us help you find the right debt consolidation solution even with less than perfect credit.
Click for details

About to Lose Your Car?
Let us help you to resolve your debt and keep your car.
Click for details

Low Rate Loans
Finding the best rate debt consolidation loans has never been simpler. No upfront fees.
Click for details

Debt Consolidation Australia :: News

Debt Consolidation Australia News

Millions lack access to basic financial services

Source: ABC News: 01 Jun 2012

Nearly 3 million Australians do not have access to basic financial products such as a credit card, car insurance or even a bank account, according to a private study.

The annual report by the Centre for Social Impact and National Australia Bank found that those most often excluded have literacy and language difficulties and live in remote areas.

The Measuring Financial Exclusion in Australia report found 17.2 per cent of the population did not have access to appropriate and affordable mainstream financial services such as a bank account in 2011.

It found 192,000 adults had no financial service whatsoever, while 2,803,000 adults had only one service.

And there was a 36 per cent jump in the proportion of adults who did not have a bank account in 2011.

The report's author, Chris Connelly, says these adults are putting themselves at further financial trouble by borrowing from family and friends or dodgy lenders.

"Unfortunately the alternatives that they have are the fringe credit products," Mr Connelly said.

"They tend to exploit consumers. They can be incredibly expensive ... and it also means that those individuals don't have any money set aside or don't have access to credit for an emergency."

The study found the problem was spread across the country.

"We've found that there are some regions that have very high levels of financial exclusion - Wollongong, the inner city areas of Sydney and Melbourne for example, and also some very large regional and remote areas of Queensland, South Australia and Western Australia," Mr Connelly said.

ABC News


Finance News

Personal Loans to help Australians in need: FSO
Oct 29 :: As Australia prepares to clean up following devastating fires and floods, Financial Services Online CEO, Andrew Clark, has announced a package of personal finance solutions designed to help affected... read more

Small business loans to help Aussie businesses through tough times
Nov 27 :: Financial Services Online has today announced a new credit facility for Australian business customers who are seeking loans for amounts of up to $10,000 with minimum security requirements, irrespective... read more

Police issue warning about bank scam
Nov 20 :: Melbourne police are warning people about a scam in which fraudsters pose as bankers and ask for money.They say they cold call customers and tell them they have been overcharged in fees and... read more

ANZ nets solid profit despite wealth management
Oct 26 :: ANZ banking group has reported a solid full-year result with net profit attributable to shareholders up 6 per cent to nearly $5.7 billion - but with its wealth management division still struggling... read more

Millions lack access to basic financial services
Jun 01 :: Nearly 3 million Australians do not have access to basic financial products such as a credit card, car insurance or even a bank account, according to a private study. The annual report by... read more

Finance Articles
When should I use a personal loan?
Unsecured personal loans can really help in a pinch. If your savings are low and your car breaks down, for example, such a loan can patch up your life. Or maybe you're buying a big-ticket item and you need backup money to cover a short-term hole in your bank account. - read more
18 Hot Tips For Intending Borrowers
If you're thinking of borrowing money to buy a car, boat, debt consolidation, home repairs, medical bills or anything else for that matter, here are some red hot tips to make the process much, much easier. - read more
A Chattel Mortgage for Business Finance - Six rules of evaluation and selection.
A Chattel Mortgage loan is a simple yet effective finance option designed for business plant and equipment purchases. Here are six rules to consider when arranging finance for your business that will ensure you retain full control over the loan process and save money in the process. - read more
How to freeze the Plastic Debt Dragon in Your Wallet
Are you scared to open your wallet knowing there is a fire snorting dragon lurking in there? You don't need to be afraid of your credit card, you can make it your friend. Here is a plan to choke the dragon and replace it with a friendly furry critter so you can start creating wealth in your life. - read more
Loan Finance: How to Shop Around Without Damaging Your Credit
If you are considering taking out a loan, you wouldn’t go out of your way to make it harder on yourself to get approved or to get a good interest rate, would you? Yet many loan applicants would enjoy a considerably better outcome on their loan application if they followed this important rule. - read more