The West Australian recently reported that Australia is experiencing a fall in unemployment rates.

Overall, this is good news for Australian workers and job seekers. It means that more people are finding and retaining their jobs. However, a stronger sense of job security can have unpredictable outcomes for people in the future. For example, some people may take out personal loans and enter into contracts for which they will require a steady income to maintain.

MIDLAS (Midland Information, Debt & Legal Advocacy Service Inc) Financial Counselors see a diverse range of clients who have taken out personal loans, credit cards, mortgages and other forms of credit, based upon their current income sources. If there is a change in income for any reason, including loss of employment, then a person may be bound by contracts that they can no longer afford.  MIDLAS Financial Counselors can assist people with issues in relation to loss of income and when people are unable to sustain repayments to a loan that they have taken out.

Sustainability and gaining employment is impacted largely by the cost of living. The high cost of living in Perth can increase the impact and role unemployment plays on a person’s financial situation.

The rise in the cost of bread is often used in such comparisons. However the West Australian highlights the dramatic increase in staples such as “food, clothing, rent, transport, utility bills and recreational costs.” When a person experiences a sudden loss of income it can be extremely difficult to manage even basic living for both individuals and families.  Unemployment benefits may assist in a short term situation, however basic Government pensions/allowances are unable to cover all living expenses comfortably. MIDLAS Financial Counselors can advocate for people who are experiencing this kind of financial stress, and who may not be aware of their rights and responsibilities. Hardship Utility Grants (HUGS) can also provide financial assistance for clients who are having difficulty paying their utility bills.

To find out more about the MIDLAS service or to book an appointment, call (08)9250 2123 or leave a message on our website: