Demand for financial counselling skyrockets in Victoria

A statewide increase of 47 per cent in calls to the debt helpline has highlighted the ongoing impact of the cost-of-living crisis in Victoria.

Nationals Member for Euroa Annabelle Cleeland said the demand for financial support and counselling continues to rise exponentially in line with household bill stress.

“Having recently met with Financial Counselling Victoria alongside my Nationals colleagues, we heard about their service which supports families and individuals suffering from significant financial distress,” Ms Cleeland said.

“The counsellors paint a sombre picture of the financial struggles that a rapidly growing number of everyday Victorians are facing.

“Too many hardworking locals are struggling to pay their household bills, place food on the table, and fill their vehicles with petrol.”

The organisation has recently written to the Premier seeking funds to increase workforce numbers over the next three years and resource a pathway for graduates to flow into the system.

Their qualified counsellors provide free, non-judgmental advice to people struggling with debt, who need a plan.

They advocate on behalf of their clients to banks, mortgage brokers and connect with other support services.

Ms Cleeland said while there are 310 financial counsellors statewide, she was not surprised to learn wait times have blown out to over eight weeks and in some regions, counsellors have been forced to close their books due to high demand.

“When someone picks up the phone seeking help, they are in dire situation and need to find a way forward immediately, not in two months,” Ms Cleeland said.

“Labor cannot keep ignoring the cost-of-living crisis, the pain it’s inflicting on individuals and families, and the need for real relief from Labor’s taxes and poor policies.”