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^{Tuesday 7 November 2023}

Interest rates go up, as South Australians facing financial hardship encouraged to seek support

With interest rates rising again, many South Australians will be feeling the pinch, but the Legal Services Commission is reminding the community that there is help available.

Legal Services Commission CEO Gabrielle Canny urged South Australians facing financial hardship to visit lsc.sa.gov.au for information about debts and financial counselling, and to call the Free Legal Helpline on 1300 366 424, for free legal advice and referrals to financial counsellors.

“It’s important for anyone experiencing financial hardship to know that there are options and services available to assist you to get through financial difficulties,” Ms Canny said.

“If you cannot meet regular repayments on debts such as a personal loan or home loan for a short time, because of temporary illness, unemployment or relationship breakdown, you can ask the credit provider for a hardship variation.

“Many businesses including credit, energy, phone and internet providers, insurance companies and local councils have staff to assist customers in financial hardship. There are laws or other requirements for these businesses to listen to their customers who say they are in financial hardship and provide them with special arrangements to assist them while they remain in financial difficulties.

“The National Debt Helpline – 1800 007 007 – is a free, independent, and confidential service that helps people tackle their debt problems, and here in South Australia, the South Australian Financial Counsellors Association can help people find a financial counsellor, at safca.org.au.

“Legal Services is urging anyone facing financial difficulties to pick up the phone, or jump on the internet to get the relevant information as an important first step in tackling debt and financial hardship.

“Seek advice as soon as possible – a financial counsellor can help you to work out a budget and a statement of your financial circumstances. A statement prepared by a financial counsellor can be useful if you are required to provide proof to a court or a creditor of your ability to pay.

“By seeking help, and accessing free financial counselling, many problems can be avoided.”

Media contact: Simon Halliwell – 0421 611 856 | media@lsc.sa.gov.au