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.

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