Victoria Shakeshaft
speaker
495 appearances
1 recordings
1 series
first heard Aug 2022
last heard Aug 2022
Victoria Shakeshaft’s voice in public audio — every appearance, attributed to the second.
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Appearances
No debt is good debt if you can't afford it.
Let's just start with that.
So really when you're looking at your debts or you're not looking at them, you're avoiding them, but you're thinking about them, really what I would say is,
And this is what a financial counsellor will do with you as well.
We need to work out what's going on for you.
So are you in a cycle right now where these debts are an ongoing problem or are they debts that are left over from a situation that's resolved?
Because the outcome for those two things is different.
Because if you're in a cycle and you can't get out, you need to come and see us because we need to see the bigger picture of what's happening for you.
We need to refer you to general counselling if you need it or we need to identify people
what are spending issues coming in that's causing you to not be able to break that cycle.
But if it's a situation that's leftover or debt that's leftover from a situation,
The ways that we look at solving that might be a little bit different because it's more of a plan with an end point.
Mortgages are a little bit different because they're secured.
So it's really important if you're having problems paying your mortgage that you come and see a financial counsellor or you speak to your bank because that's very different to your personal loans and your credit cards that are not secured.
So we normally have a few more options when it comes to those debts.
If the debt is older and the situation's resolved, you're trying to get back on track, you know, we might pick one to focus on or we might ask the bank for a long-term payment arrangement that's got lower interest or no interest or you might have a lump sum that comes in from your tax return and we might try and settle the debt for less than the total amount.
It's very difficult to give...
strategies without knowing how the debt has come about so it's really helpful for your financial counsellor if you've got if you've had a bit of a think about which kind of category you fall in and the best thing that you can do to start and this will your financial counsellor will love you if you come in with this already but basically it's a table and along the top you have the amount that you owe the interest rate if there's any security so that means if there's anything
attached to the loan that the bank can take if you don't pay it.
So like your house or your car or your boat.
Showing 101–120 of 495 · page 6 of 25
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