Coronavirus has drastically changed the way we live, work and communicate. It is having a huge impact across the country as job uncertainty increases and many Australians are now worried about how their finances will hold out during these challenging times.
The Australian Government has announced multiple economic stimulus packages to help support individuals and households through the pandemic. However, many Australians don’t have the emergency savings required for a time like this which may cause a number of people to use credit cards or take out personal loans just to get by. For those already struggling with unmanageable debt before the pandemic hit, the Government's support may not be enough.
It's important to act now and put a plan in place to get out of debt, once and for all. At Debt Rescue, we are here to support you through this crisis with a number of debt relief solutions available depending on your individual circumstances. We can help with:
If you're struggling with debt due to the impact of Coronavirus, you're not alone. Get in touch with our friendly team today on 1800 00 3328 for a free, 30-minute consultation.
Coronavirus is having a major impact across the country, with many Australians now facing financial insecurity and stress due to job loss or decreased hours of work. We’ve put together a few tips in the video below on how to stay healthy – financially and mentally – during these uncertain times.
The Australian Government has announced multiple economic stimulus packages to help support individuals and households through the pandemic.
Businesses affected by Coronavirus can access a wage subsidy for their employees. Employers will be able to claim a fortnightly JobKeeper payment of $1,500 per eligible employee for up to 6 months back dated to 1 March 2020. Those who have been stood down due to the Coronavirus pandemic will also be eligible.
You can find out more here.
Individuals on Centrelink benefits, including Job Seeker, Youth Allowance and Parenting Payment will be able to access an additional temporary Coronavirus payment of $550 per fortnight.
You can find out more here.
Eligible low income earners on Centrelink benefits, including Job Seeker, Youth Allowance and Parenting Payment will receive two separate payments of $750. One in April and another in July.
You can find out more here.
Individuals affected by Coronavirus will be able to access their superannuation early, without it being taxed or affecting any Centrelink benefit payment. They can access up to $10,000 in 2019-20 and a further $10,000 in 2020-21.
You can find out more here.
Changes introduced to Bankruptcy legislation makes it extremely difficult for creditors to force you into Bankruptcy for unpaid debts.
You can find out more here.
With the Australian Government advising Australians to stay at home, many people may be experiencing heightened feelings of isolation, loneliness or anxiety. The good news is that is that this situation is only temporary and there are ways to manage and mitigate these feelings. Here’s how:
If you’re experiencing signs of stress, anxiety or depression due to staying at home, it’s important you speak to someone for help and support. There is free assistance available:
For more information on our debt relief solutions, please read our articles below.
Debt Rescue is a business name under licence to Solution Providers Pty Ltd (ABN 12 138 608 661). Solutions Providers Pty Ltd is an authorised agent of Insolvency Administration Services Pty Ltd (Registered Debt Agreement Administrator Number: 1337) and Positive Solutions Finance Pty Ltd (Australian Credit Licence Number: 418721). All debt agreement and credit services will be provided by Insolvency Administration Services Pty Ltd and Positive Solutions Finance Pty Ltd and their licensed representatives. Debt Rescue is a part of Lanyana Financial Group.
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