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Wesley Mission’s Creditline Fairfield Financial Counselling Service has received a $15,000 boost enabling it to provide an extra day’s counselling in financially stressed south-west Sydney.

NSW Fair Trading Minister, Linda Burney, recently presented Wesley Mission Superintendent the Rev Keith Garner with a cheque for $15,000 for the service.

Ms Burney said Wesley Mission Creditline Fairfield was one of seven services that were provided with extra funding to better meet the growing demand for services under the Office of Fair Trading’s Financial Counselling Services Program. 

“With the recent hefty increases in interest rates, and credit easy to obtain, more and more people are struggling to make ends meet,” Ms Burney said.

“The work of financial counsellors is becoming increasingly important in helping people manage their money and free themselves of the incredible pressure caused by spiralling debt.”

Ms Burney said she was extremely supportive of the Financial Counselling Services Program to provide consumers with information on money management and credit issues and she supports the valuable work carried out by financial counsellors. 

Mr Garner said the $15,000 contributed by the NSW Office of Fair Trading would help Wesley Mission provide another day of much-needed financial counselling in the Fairfield area resulting in a five-day-a-week service.

“This extra funding will allow Wesley Mission to see more clients and turn away less. In the period from January to April this year our counselling service has already seen 55 new clients…and there are strong reasons,” he said.

“South-west Sydney is reeling from financial stress on many fronts: the relentless march of mortgage interest rates, lack of affordable housing, negative equity in homes, an extremely tight rental market, over commitment on credit cards and a subsequent increase in bankruptcies.”

The Wesley Report revealed that residents of south-west Sydney – which included the Fairfield and Liverpool local government areas – comprised the largest number of financially stressed people in the Sydney metropolitan area. Some 45 percent of respondents from the south-west region admitted they were under financial stress.

Clients who seek counsel from Wesley Mission’s Fairfield office come with a range of problems but the overwhelming presenting factor is credit-related debt which accounts for almost half of all clients. Ten percent of all clients are facing bankruptcy. Almost half of all clients are aged 46-60 years, 57 percent are female and almost six in ten are receiving government benefits.

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