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Banking & Investment

Debt vulture firms preying on Australians hit by the pandemic

Predatory debt management companies have been dubbed ‘debt vultures’ for preying on Australians in financial distress due to the pandemic – and not delivering on promises.

Centrelink – Services Australia

PM issues an apology over the government’s unlawful robo-debt scheme

Prime Minister Scott Morrison has offered his “deep regret” to anyone harmed through the government’s use of the controversial and unlawful robo-debt program.

Centrelink – Services Australia

Govt to refund $721m in unlawful debts, but won’t apologise to victims

The federal government announced on Friday it would refund $721 million to hundreds of thousands of Australians charged debts under the flawed robo-debt welfare scheme.

Banking & Investment

Deferrals of failed payments will not incur a bad credit rating: ABA

Loan repayment deferrals and deferred payments on any other credit product during the COVID-19 crisis will not incur a bad credit rating, says the Australian Banking Association.

Banking & Investment

Banks and the ATO extending a helping hand in your time of need

Australians expecting to do it tough during the coronavirus pandemic are receiving a helping hand from banks and the Australian Tax Office, which are both providing assistance measures and support in the wake of a crisis.

Relationships

Should you check your partner’s credit rating?

Many divorces could be avoided if couples did a credit check on their partner before they tied the knot or moved in together, says a leading Australian Consumer and Financial law firm.

Banking & Investment

One in five Australians caught out the rate cut that never came

Nearly one in five Australians was left hanging after making financial decisions to prepare for a rate cut that never came, according to new research.

Age Pension

How does Centrelink assess a lump-sum loan repayment?

What happens when you borrow money, then lend it to one of your children and they can’t pay it back? Then what happens after you’ve covered their repayments and they pay you back? How does Centrelink assess this? Noel Whittaker has the answer.

Centrelink News

Centrelink’s controversial robo-debt scheme hits new low

Centrelink’s scheme has been ramped up a notch, according to a top QC, who says information about the time limit on alleged debts has been ‘misleading’.

Centrelink News

Pensioners could be Centrelink’s next target: leaked documents

Leaked documents obtained by Guardian Australia show that pensioners could be robo-debt’s next target, under a proposed expansion of Centrelink’s automated debt collection program.

Age Pension

What to do if you get a Centrelink debt notice

Phillip has been told he is in debt for Age Pension overpayments and wants to know how to challenge the ruling.

Finance

Key lenders promise to improve credit card practices

Credit card providers have vowed to improve their practices in the wake of a damning report that found more than one in six consumers were struggling with debt.

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