Financial counsellors urge people in financial stress to seek help following interest rate rise as calls to helplines increase

Today’s interest rate rise will add further pressure to Australians already struggling with housing costs and rising living expenses, with financial counsellors warning that more households may be pushed into financial distress.

Demand for help is rising. In February there were 15,857 calls and online chats to the National Debt Helpline (NDH), the highest number recorded for the month of February since 2020. The figure represents a 9 per cent increase compared with February 2025, highlighting growing financial stress across the country.

Mortgage stress is the leading reason people contact the NDH, followed by credit card debt, ATO debt, energy bills and personal loans.

The Small Business Debt Helplines also saw a rise in cases with an increase of 37% compared with February 2025 – 11% of those had a mortgage.

“People who are struggling need to know they’re not alone. They should contact their bank or lender as soon as possible and ask about hardship options,” said Dr Domenique Meyrick, the CEO of Financial Counselling Australia – which coordinates the NDH.

“We’re hearing from people who are making incredibly tough decisions and it’s critical that banks and lenders respond constructively when customers ask for help.”

Dr Meyrick also encouraged anyone experiencing financial stress to seek help from a financial counsellor.

“Free and independent help is available, and financial counsellors can help people understand their options and deal with creditors,” she said.

You can find a financial counsellor by searching on the NDH website at ndh.org.au which also has a free web-chat service or call 1800 007 007 to speak with a financial counsellor.

Contact: Maura Angle 0418 334 121 or [email protected]