Debt management businesses opinions.

[nuthin' fancy]

The OP has come here looking for some advice and he seems to be getting bashed about the head a bit.

How about all you wise people share your wisdom rather than your scorn?

[xisled]

I have read all these post, and some people just not get this.

The OP is trying to say if he sold his car, he has no money to buy another one. So the only car he has an option is his current car. He would not be able to afford a $2000 car at the moment. So for transport and such keeping the car is a good idea. The car is only $45 per week. So it is not a huge amount, which most people can live with, and it seems that he can live with this also.

One thing you can do, is go to the company you owe and ask if tehy do center pay. If you are on centerlink yo can do a thing called center pay.

Centerpay is an amount you agree to take out of your Centerlink payment.
The amount is paid directly to the company before your get your money from Centerlink.

If you pay say $40 a week to the company you owe, the debt will drop in no time.

You just need to make sure the company you want to pay has Centerpay options.

You are not in a very big hole at the moment, it just seems like you are. The debts are not huge and are still manageable.

Also if you go to places like Salvation Army, Vinnie’s and such they may be able to assist you with hardships schemes so they can pay off some the bills. They may also be able to help with a finacial counsiler also.

Also on the side of selling the car and buying a cheap daily. That may be a good idea, but if it starts to break down, it may cost more than $45 plus a week to get it back on the road. At current he has a reliable car that is fairly new and more than likely will not break down.

Stay away from my budget and places like that. They charge you to help.

Also make a budget and stick to it. If you have to go without something for a week so be it.

Make a list of everything you owe and what you spend.
When you pay some off the loan. Make a note and you will see your prgoress. It will make you want to pay it off quicker.

[ute83]

Here, buy this, read it, live by it and it will set you up for life.http://www.mymoneytree.com.au/

[Miss_XR6]

If you are paying off the car and arent behind and have that money and arent struggling keep it.

Debt companies will charge more then the actual debt

Ring the phone companies and work out with there credit team a payment plan that you can pay off each week and that they accept over a period of time till the debt is paid in full.
Most companies if your upfront with them will prefer this then u running away and forgetting the debt

[H.G]

I actually found rich dad poor dad a really helpful book on money..

[Iggypoppin']

Don't go out for a month, only drive to work and back, no extra spending put all your pay into your debts and watch them slowly disappear. I'm saving around $450 a week for my next car and all I do is drive to work and back and that's it I stopped going out and buying stuff, even a cold drink at the servo whilst buying fuel I don't buy it's little stuff that adds up. Sacrifice now and by summer you'll be clear of these small debts and can go back to living a more luxurious lifestyle. My friends understand why I'm not going out anymore and saving and they know it's for the best that I'm a bit of a hermit right now.
Might be hard to stomach but it's a great way to smash some debt.

[sgt_doofey]

Here's a bit of advice and it's what I do at home.
When your pay goes in to your bank account, have an automatic payment come out the next day to cover your bills.
In my case, my wife gets paid monthly, so when her pay goes in the bank on the 15th, we then pay our phone (home and mobile) bills, internet, water, electricity, insurance, etc, etc on the 16th. That way, we don't see that money and the bills are all paid. You're left with the remainder to last you until your next pay.
An alternative to this is to set up another account and have money deposited in there from your pay to cover your bills. Then set up auto payments from that account be it BPay or direct debit.
It won't help the current situation, there has been some advise on that already, but it'll stop you from getting in to this situation again in the future as your bills are all paid, usually in advance and you're left to spend whatever is leftover.

[MITCHAY]

Hey mate you may be able to get free financial counseling to assist you however these places are quite busy for obvious reasons so may take some time. My brother recently went with one. They can negotiate on your behalf with those who you owe money to. Check out this page for more details

http://www.accc.gov.au/content/index.../itemId/815382

The most important thing is to make sure you make some sort of arrangement. Generally speaking a company will set up some sort of debt plan to assist if you are cooperative.

[Yellow_Festiva]

Buddy,

What is your work situation like? Are you able to get weekend work / overtime at all?? You will already be paying more for stuff this year, but you will also be paying less tax as well - but then again I don't know your personal situation so that is an assumption.

Have you got junk you can sell off on ebay?? I cleared my garage of random stuff, old furniture, car bits etc and made about $600.

I have just read that you won't be driving for a while. Sorry to hear. Is there any local work you can try that is walking distance from home??

If you are hell bent on keeping your car, look at trying to make (and put aside) more money, get rid of your other short term debts and try and double / tripple your car repayments.. that will save you a lot of interest.

I have never had a car loan... I hope they will allow for extra repayments??

I have well and truly 'been there, done that'.. trust me.

Sorry if I came across as rude as well.

Good luck,

Jason

Oh... perhaps hold off on the wheels as well ;)

[JGP]

I think you need to reel in your spending, your debts arent that bad (1000 if im not mistaken) and to stop wanting rims and stuff at this point in time:
http://www.fordforums.com.au/showthread.php?t=11370852

[Iggypoppin']

Looking over my last monthly statement I counted nearly $500 in random stuff I bought. After work drinks, coffee, Maccas, KFC, parmy at the pub, etc etc. if you do buy any of this stuff then stop straight away, the second you get paid put fuel in your car, pay your loan and smash the small debts away with the rest. Put enough petrol in to last you a weeks driving to work and back and live frugal for a bit. Trust me it works. Presently I pay $50 a week in board, $100 a month for my phone and $30 a month for my laptop. Once this is all paid I fuel up and put EVERYTHING else in my savings account. Last week I put nearly $600 in it. I only earnt about a grand and I'm doing fine without any money so long as I have fuel.
Within a month or two ill have nearly enough to go out and buy my new car. It's that easy. When I buy fuel I ONLY buy fuel no extras no $7 subway no $5 red bull when I'm hungry I eat from the fridge at home, that's what it's for, I stay home when my mates say lets hit the pub, it sucks for a bit but it's because I have a goal in sight and damnit that's what I want to achieve. I am lucky because I have no loans but if I did I would still be living frugal and reaping the benefit in a few months time.

[Dusty1]

Reality is, as has been said many times on here, if incoming doesn't match outgoings then there's going to be strife.

Lower anything you can. Don't take credit card limit increases, mine has a limit of $1000 - heaps for us. Don't spend when you don't have too. Cut back where you can, and you'll make a dent in it. Companies like you paying, do talk to them about payment plans.

[Kryton]

Theres been a full business working day to ring the creditors - I'll bet it hasnt been done.
You can lead a horse to water but you cant make it drink.
Till the OP wants to actually help himself and do what has been suggested, there aint no point posting anything else in this thread.

[glavas]

God and i thoght i had it bad paying 65k in tax. This guy seems to be in a hole. When i was 19 i bought my first house so chin up champ shel be right

[ute83]

Something doesn't add up. The op's figures differ wildly. His car went from 27k to a 32k loan, down to 22k in four months then down to 17k the following month all on $45 a week payments. All this info is in his other threads. Seems a bit odd.

[Auslandau]

I think he knows what to do now and hope he is onto it. Leaving it here for now.