The basic philosophy of the BFFS Debt Consolidation Scheme is to provide low-income earners with access to safe and affordable credit without the burden of fees and interest charges while working within the Financial Case Management program. The Debt Consolidation Scheme: aims to enable people on low incomes to consolidate their debts. This scheme enhances social and economic participation for a person who would otherwise not be able to access credit via fair and equitable means. The BFFS Debt Consolidation Scheme does not provide debt consolidation for the following purposes:
Rent areas and items for which other forms of assistance may be available
General living expenses, such as food,gas, electricity, and telephone bills
Fines, Centrelink debt, Australian Taxation Office debt and Child Support debt
The Debt Consolidation Scheme Aims:
To provide people living on low incomes; who live and or work in the Bendigo and surrounding areas with access to debt consolidation: promoting financial inclusion by helping people avoid or resolve financial difficulties which will lead to their financial self reliance.
To tailor a repayment plan to suit their individual financial circumstances and without the penalty of fees and interest payments.
To develop a co-operative partnership between Bendigo Family and Financial Services and the community.
To maintain the dignity of the individual and encourage self reliance with the client supported through the process.
To give participants the financial skills and knowledge to help to Get them off the merry go round.