12th February 2014 - A coalition of consumer advocates and financial counselling agencies has expressed dismay at a plan to charge Australians filing for bankruptcy. The Australian Financial Security Authority (ASFA) has proposed to impose a new fee of $120 from 1 April 2014. Financial Counselling Australia, Consumer Action Law Centre,…
5th February 2014 - The critical role of financial counsellors in alerting regulators to unconscionable and unfair business practices was highlighted in yesterday’s announcement by ASIC of enforcement action against unlicensed rental companies. ASIC has entered into enforceable undertakings with companies including Home Essentials Pty Ltd and I Love My…
3rd February 2014 - Financial Counselling Australia’s pre-budget submission calls for the ongoing funding of Commonwealth-funded financial counselling services. The Federal Government currently invests around $20 million per annum into financial counselling services. All of this funding expires at 30th June 2014. The financial counselling sector is uncertain about the…
29th January 2014 - Financial Counselling Australia has today released a “Funding Snapshot”, documenting total funding for financial counselling from State, Territory and the Federal Governments. The document is in “draft” form. It was very difficult to obtain accurate figures about funding levels. Publicly available data is often hard to…
28th January 2014 - Financial Counselling Australia has today released its 2012-13 Annual Report. “It was a big year for FCA with significant milestones”, said FCA’s Executive Director Fiona Guthrie. “We all like to think we’re making a difference, but in writing this annual report we’ve tried to step back…
19th December 2013 - Rather than a simple “yes” or “no”, Sunsuper and other superannuation trustees should be asking the question: “why?” The Financial Counsellors’ Association of Queensland (FCAQ) has noted that from 1 January 2014, Sunsuper, Queensland’s largest superannuation fund, will no longer allow members to lodge claims for early…
18th December 2013 - Financial Counselling Australia: Avoid a financial hangover this Christmas. The real price of an expensive Christmas gift can be financial stress, says Financial Counselling Australia. Technology transcends income levels and with iPads, play stations, electronic games and other technology-driven items at the top of many Christmas “wish…
23rd October 2013 - The release of the Financial Ombudsman Service (FOS) annual report today highlights just how important this service is for consumers. Over 30,000 people accessed the free and independent dispute resolution services of FOS during 2012-13. “When it comes to access to justice, the existence of external dispute…
13th October 2013 - To mark Anti-Poverty Week, Financial Counselling Australia has highlighted five for-profit business models that target people struggling with debts – but instead of solving financial difficulty, can actually increase it. These businesses – budgeting services, credit repair companies, debt negotiators, bankruptcy services and debt agreement administrators –…
10th October 2013 - Financial Counselling Australia (FCA) attended today’s announcement in Sydney by Maurice Blackburn that they are commencing a class action against Cash Converters International and related entities. Financial counsellors – who work in community organisations and assist people in financial difficulty – see many clients struggling with…