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About Financial Counsellors About Financial Counsellors

Financial Counsellors provide assistance, advocacy and information to those who are experiencing financial difficulty or who have problems with debt.

Financial counsellors provide assistance, advocacy and information to those who are experiencing financial difficulty or who have problems with debt.

Financial counsellors in Victoria are highly skilled paralegal professionals, who work within a framework of social justice and a model of client empowerment to provide services free of charge to consumers without conflict.

Frequently Asked Questions

What is the role of a financial counsellor?

Financial counsellors assist people that are:

  • struggling with debt and debt collection issues
  • needing to respond to inability to pay loans
  • accessing short term finance with dire consequences
  • considering bankruptcy
  • struggling with rent, mortgage or housing stress
  • struggling with issues that impact income

 

 


What do they do?

  • Advise and assist with problems related to debt and debt enforcement
  • Advocate and negotiate with banks and other lenders
  • Assist with concessions, grant eligibility and applications as well as referral for material aid
  • Assist with lodging complaints to external dispute resolution services
  • Refer to other community, health and legal services
  • Provide information about consumer rights

What don't they do?

Financial counsellors don't

  • lend money,
  • provide material aid,
  • recommend any kinds of loan products,
  • do tax returns,
  • provide debt consolidation services,
  • provide financial product advice or
  • deal with investments. 

Where do they work?

Financial counsellors work in community organisations, government health and aged care agencies. The majority of funding for these agencies is provided by state and federal governments.


How do financial counsellors get paid?

Financial counsellors must work for an agency that meets the ASIC requirements for exemption from a financial services licence or a credit licence. Financial counsellors are paid wages through these agencies under an appropriate award, funded through state or federal government or other philanthropic initiatives.