Financial counsellors urge those doing it tough to reach out for help

Financial counsellors expect today’s interest rate rise, coupled with high living costs, to create even more distress for many of their clients struggling financially.

“People are really doing it tough and having to make difficult decisions to cover every day living costs and pay their rent or mortgage,” said Dr Domenique Meyrick, CEO of Financial Counselling Australia (FCA).

New data from the National Debt Helpline (NDH) shows demand for help rose in January 2026. The service received 15,071 calls and chats, up from 13,708 in January 2025. That’s a 10 per cent increase and the busiest January since 2020, marking a return to pre-pandemic levels of demand.

Housing stress remains one of the leading reasons people contact the NDH, along with general credit issues and utilities.

“We’re seeing a new demographic of people getting into financial trouble – people who are working, often full-time, but simply can’t keep up with mortgage repayments and the rising cost of essential items,” Dr Meyrick said.

Dr Meyrick said those finding it hard to keep up with mortgage repayments or other debts should contact their bank and ask for hardship assistance.

She also said anyone feeling overwhelmed should know financial counsellors can help.

“You’re not alone, and there is free, confidential help available. The earlier people reach out, the more options they have.”

You can find a financial counsellor in your area by searching on the NDH website at ndh.org.au or contacting the NDH on 1800 007 007.

Media contact: Maura Angle 0418 334 121 or [email protected]