Opinion piece on Buy Now Pay Later by Fiona Guthrie

Posted by SAFCA on 11 January 2021
Buy now, pay later just another form of credit FIONA GUTHRIE WANT that holiday but don't have the money in your pocket? Want that new furniture, or pair of jeans, but your bank balance is looking a bit shaky? In days gone by, many people turned to credit cards, complete with exorbitant interest rates. But not any more. Enter the new kid on the block: Buy Now, Pay Later, with its catchcry of "no interest ever". A recent ASIC report into the BNPL sector found there we...
Posted in: Buy now Pay later  

Financial counsellors welcome Government's commitment to a more secure and coordinated future for the sector

Posted by SAFCA on 1 December 2020
Media Release 26th November 2020 Financial Counselling Australia has welcomed the Federal Government's response to last year's review of the coordination and funding for financial counselling services across Australia. The review, called the Countervailing Power: Review of the coordination and funding for financial counselling services across Australia, made a series of recommendations to ensure the long-term viability of the sector. Importantly, the Government has supported...
Posted in: financial counselling Funding  

South Australia's and Northern Territory's financial counsellors fight to stop Federal Government changes to responsible lending laws.

Posted by SAFCA on 5 November 2020
Media Statement South Australian and Northern Territory financial counsellors are slamming federal government moves to remove responsible lending laws. The laws protect people from exploitative lending by banks and other lenders, but the Federal Government has just released a draft bill which will see them axed from March next year. Financial counsellors from around South Australian and Northern Territory are writing letters to local MPs and Senators to urge them to vote against the pro...
Posted in: Responsible Lending  

AFSA warns people to steer clear of dodgy insolvency advisors - Media Release 2/11/2020

Posted by SAFCA on 2 November 2020
The Australian Financial Security Authority (AFSA) is today launching a campaign to raise awareness of dodgy insolvency advisors who exploit people when they seek help to manage debt. AFSA is particularly concerned that those experiencing financial stress because of the economic impact of COVID-19 may be easy targets. "People who find themselves dealing with large debts for the first time as a result of COVID-19 may be tempted to turn to advisors who say they have a quick fix and lat...
Posted in: AFSA bankruptcy dodgyinsolvencyadvisors debt  

Financial Counsellors Welcome Funding Announcements - Financial Counselling Australia

Posted on 13 October 2020

Media Release 7/10/2020
Financial Counselling Australia has welcomed two key announcements made last night as part of the Federal Budget. The first measure will secure the ongoing pay of financial counsellors employed by a number of charities and community organisations. The Government will provide $132.6 million over three years to social services, including financial counsellors, impacted by the end of the Social and Community Services Special Account (SACS). This account was set up to...
Posted in: Financial Counselling Australia FCA financial counselling  
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