✅More than 22% of surveyed #SMEs list servicing excessive debt as one of their top 4 challenges. The data also shows that small #businesses will have taken on additional unforeseen #COVID debt somewhere between $100-$300K. It almost feels like we should stop for a minute’s silence.

Don’t forget #Subscribe 🅾 📺 👉🏻 #SMETV https://www.youtube.com/c/SMETVPodcasts to get great SME content on demand❗

You could be suffering from credit card debt, #mortgage #overwhelm and/or business debt.

You might need a Credit Reset.

In this episode we talk to our expert Laurence Barlow, Company Director of Credit Reboot, they have helped 2500 #Australian families out of crippling debt and reset their #finances in the last 5 years. And guess what? Your debt may not even be legally #compliant!

00:00 Intro
01:08 Australia’s personal debt levels are amongst the highest in the world
02:00 Did you realise that the National Credit Card Debt is sitting at $281 Billion?
02:53 Laurence’s #software looks at consumer’s credit applications and determines where the Responsible Lending breaches have occurred when the credit provider issued the credit card.
03:38 Did you too get one of those phone calls offering you pre-approved credit limits?
04:49 Have you signed for debt that isn’t legally compliant?
04:58 Of the 1000’s of applications reviewed, ALL have breached between 5-30 compliance regulations
05:46 Do you have 4 – 5 credit cards around $5-10k each from different brands?
07:01 Is this an #asset grab by the credit provider?
08:12 Laurence gets the documentation directly from the #bank or #financial institution and reviews it
08:59 Debts are often negotiated down to 50c in the dollar, interest free payment plan and the balance is paid off without putting them into financial hardship
09:50 Trying to solve debt problems with more debt is like trying to put fire out with gasoline
10:07 Lawrence previously had a substantial debt collection business – he knows how the system works
12:03 Do you have Zombi Debt?
13:30 What about Debt Diabetes?
14:10 You don’t have to accept aggressive collection conduct, get help to fight this bad behaviour
14:55 Businesses have used credit cards to keep the doors open and suddenly have $200K of debt and business is down as much as 80%
15:49 Credit File health during COVID

A huge thank you to the SME Association of Australia for making #SMETV & Podcasts channel possible.

To reach us with any content ideas for your business community you can email us news@smea.org.au and we are on all the socials too.

Thank You


We have taken this video from YouTube and posted it on our site and if you are the owner of this video or you have any problem with this video please contact us


Please enter your comment!
Please enter your name here