How to handle pandemic debt

A year into the COVID-19 pandemic, many Australians are trapped in a vicious cycle of increasing debts while relying on multiple personal loans to cover their household bills and living costs.

Consejos para buscar un agente de inmigración en Australia. Source: Getty image

Key Points to remember

• Keeping the communication channels open with your financial institution is the best way towards alienating your debt.
• Prioritise repaying debts tied to your assets and the ones with the highest interest rate.
• Around 850 financial counsellors nationwide offer free, confidential and legal support and their help is available in languages other than English.

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