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Australian Government Department of Families, Housing, Community Services and Indigenous Affairs

Families

Commonwealth Financial Counselling (CFC)


Introduction

Commonwealth Financial Counselling (CFC) commenced providing services in 1990. Originally administered by the Attorney-General's Department, the initiative was subsequently transferred to the Department of Industry, Science and Tourism, the Treasury and, in December 1999, the Department of Family and Community Services.

CFC is particularly focussed on low-income groups and funds incorporated non-profit community-based organisations and local government community service organisations to provide free financial counselling services to people who are experiencing personal financial difficulties, including due to circumstances such as unemployment, sickness, credit over-commitment and family breakdown.

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How a Financial Counsellor Can Help

Here are some examples of how financial counsellors can assist people who are experiencing personal financial difficulties

Negotiations

If someone has a loan, mortgage or credit card and is having difficulty maintaining repayments, a financial counsellor can assist in negotiating with creditors to reach an acceptable agreement.

Advocacy

Where a person feels overwhelmed by a personal financial problem, and would like help in effectively communicating with government or non-government organisations, a financial counsellor can advocate on their behalf.

Bills

If someone can't pay an outstanding bill, a financial counsellor can help them look at their options and explain what they can do.

Debt Recovery

Where a person has received a letter of demand, a summons, a warrant of execution or a judgement summons and is not sure what to do next, a financial counsellor can explain the debt recovery process and assist them to take the appropriate course of action.

Budgeting

If someone is having difficulties making ends meet, a financial counsellor can assist them to develop a budgeting plan to suit their circumstances, and help them gain financial management skills that will enable them to take control of their finances.

Bankruptcy

A financial counsellor can give information on bankruptcy and can also assist people to explore alternatives.

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Organisations Providing CFC Services

In 2007-08, 41 community/local government organisations were funded under CFC (General), with six of these organisations also funded under the final year of CFC (Sugar Industry Reform).

Most CFC organisations are funded to provide financial counselling services; with a small number of organisations funded to provide resource support services or financial counselling and resource support services.

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Other Financial Counselling Services

Financial counselling services in Australia are also funded by State and Territory governments and community organisations.

The Department of Agriculture, Fisheries and Forestry provides funds for the Rural Financial Counselling Service Program.

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Financial Information Services

Financial Information Service (FIS)

Centrelink's Financial Information Service (FIS) is an education and information service available to everyone in the community. FIS helps people make informed decisions about investment and financial issues for their current and future financial needs. FIS is independent, free and confidential and provides services by phone, personal interview and through seminars.

National Information Centre on Retirement Investments (NICRI)

The National Information Centre on Retirement Investments (NICRI) is an independent body funded by the Commonwealth Government to provide the public with free and independent information on planning and saving for retirement, on the nature of investment options and on effective use of financial resources in retirement.

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Other Links


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Related information