Australian households may suffer financial stress due to floods in Queensland & Victoria

The floods in Queensland & Victoria may cause serious financial stress for Australian families. The recent floods will cost the Australian economy many billions of dollars in damage, clean up and lost revenues. It has recently been reported that the Australian floods could cost the Australian economy up to $20 billion which will put the expected budget surplus for 2013 under serious threat.

If your house or business has been affected by the floods, we recommend that you contact your creditors as soon as possible and ask for immediate hardship assistance. This may include a period of no repayments or significantly reduced interest. Your creditors should provide financial hardship to avoid unnecessary stress from debt for at least 3 months, possibly longer to flood victims.

Debt consolidation options for the Australians

If you are still suffering financial stress after the period of hardship expires you may need to consider other options, which may include:

Debt Free will offer free initial advice to any Australian who has suffered as a result of the recent floods.

Tagged →