Fair Trading Minister Anthony Roberts is encouraging people experiencing financial problems to seek help from NSW Fair Trading on 13 32 20.

Mr Roberts said financial counselling services and a successful no interest loans scheme were supported with state government funding, but often people did not know where to turn for help.

The Financial Counselling Services Program is in place until 30 June 2012 and annual funding for the program is $5.6 million.

This funding supports 65 dedicated services, including the Consumer Credit Legal Centre Hotline 1800 808 488 as well as a state-wide training program and administrative support for counsellors.

Mr Roberts said more than 40,000 people sought advice from financial counselling services across NSW in 2010.

“Families are suffering under the burden of increasing household debt, so the invaluable work of those providing debt management advice is all the more critical,” he said.

“The service provided through financial counsellors is free and I urge anyone who is struggling with debt to call a financial counsellor today.

“Early intervention is the key and with good advice and support, people can alleviate their financial stress and with it, much of the emotional and physical stress that ensues.”

Mr Roberts said the government was also investing $1.78 million annually to help struggling NSW families access no interest loans.

“Funding for NILS® supports 58 NILS® services across the state and includes a dedicated NSW NILS® telephone Hotline on 1800 509 994,” he said.

“Since Fair Trading began funding NILS® in late 2008, more than 6,000 loans worth more than $5 million have been provided.

“The scheme gives low income families and individuals loans of up to $1,200 to help purchase essential household or medical goods and services, including washing machines, refrigerators, computers for children and other essential items that support family stability and success.

“It is a vital safety net for many people who would normally turn to credit cards with high interest rates and fees, setting them on an endless spiral of unmanageable debt.

“The program is delivering proven results and is helping many to survive tough economic times, including mature-aged workers, long-term unemployed parents, people with disabilities, refugees, migrants, Aboriginal and Torres Strait Islanders and young people trying to get on their feet.”

National Australia Bank provides loan capital of $23 million nationally.

“The NSW Government is committed to assisting the financially disadvantaged and believes every person is entitled to the basic necessities of life to maintain their health, wellbeing and dignity,” Mr Roberts said.

For more information go to the NSW Fair Trading website - Alternatives to high cost credit. For NILS® go to www.nilsnsw.org.au

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