Financial Hardship: Insights from a Survey of Financial Counsellors

38 Pages Posted: 2 Dec 2015

See all articles by Paul Ali

Paul Ali

University of Melbourne - Law School

Evgenia Bourova

University of Melbourne - Law School

Ian Ramsay

Melbourne Law School - University of Melbourne

Date Written: December 2015

Abstract

Financial hardship occurs where a consumer takes on payment obligations under a contract but then becomes unable to meet them when they fall due. The authors present the results of a survey of financial counsellors with the aim of drawing upon the extensive work experience of the counsellors to put together a broad picture of the underlying causes of this growing problem and how it is addressed in four key sectors: consumer credit, energy, water and telecommunications. The findings include the views of the financial counsellors on the causes of financial hardship, how financial hardship can vary according to gender, and the particular challenges faced by migrants. The findings of the research also include insights into the types of assistance provided to those in financial hardship by providers of consumer credit, energy, water and telecommunications, the adequacy of this assistance and the barriers to accessing appropriate hardship assistance.

Keywords: financial hardship, consumer credit

Suggested Citation

Ali, Paul and Bourova, Evgenia and Ramsay, Ian, Financial Hardship: Insights from a Survey of Financial Counsellors (December 2015). Available at SSRN: https://ssrn.com/abstract=2697970 or http://dx.doi.org/10.2139/ssrn.2697970

Paul Ali

University of Melbourne - Law School ( email )

University Square
185 Pelham Street, Carlton
Victoria, Victoria 3010
Australia
+61 3 8344 1088 (Phone)
+61 3 8344 5285 (Fax)

HOME PAGE: http://www.law.unimelb.edu.au

Evgenia Bourova

University of Melbourne - Law School ( email )

University Square
185 Pelham Street, Carlton
Victoria, Victoria 3010
Australia

Ian Ramsay (Contact Author)

Melbourne Law School - University of Melbourne ( email )

University Square
185 Pelham Street, Carlton
Victoria, Victoria 3010
Australia
+61 3 8344 5332 (Phone)

HOME PAGE: http://law.unimelb.edu.au/about/staff/ian-ramsay

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