Thousands of struggling Victorian households are at risk of repossession and homelessness unless the state government urgently funds more financial counsellors, leading charities and community organisations say., 36 charities and community organisations that provide financial counselling services are demanding more resources to help deal with rocketing demand prompted by rising interest rates, soaring energy prices and costly grocery bills.
“Financial counsellors are able to negotiate with a person’s creditors, and organise affordable payment plans, deferrals, or waivers on their behalf,” the letter says. Head of financial wellbeing Kay Dilger said the situation was a “once-in-a-generation cost of living crisis”., the state government said the state’s public Financial Counselling Program – run by Consumer Affairs Victoria – had provided help to almost 19,000 Victorians in the 2022-23 financial year following a $15 million investment in the program.Consumer Affairs Minister Gabrielle Williams said unexpected financial hardship can come at any time.
But Financial Counselling Victoria executive officer Zyl Hovenga-Wauchope said the financial counselling workforce continued to be overwhelmed by the amount of work, and was at risk of burnout.