Way Forward - Free Debt Solutions

Name

Way Forward - Free Debt Solutions

Legal name

Way Forward Debt Solutions Limited

Website

https://wayforward.org.au

Company type

Private

Founded year

2018

Operating status

Operating

Headcount range

1–10 employees

Ownership category

akta.pro rank

NAICS

Activities Related to Credit Intermediation (5223)

SIC

Services-Consumer Credit Reporting, Collection Agencies (7320)

akta.pro primary industry

Debt Management Plans (DMP) Administration (FSAEAFAB)

akta.pro secondary industries

Credit Counseling & Debt Management Plans (DMP) (FSAKAJAH), Debt Settlement & Negotiation Services (FSAEAFAC)

Keywords

• Debt management plans
• Financial counselling
• Debt consolidation services
• Credit advisory services
• Financial hardship assistance

Headquarters

HQ city

Melbourne

HQ country

Australia

HQ region

Oceania

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Donations from Financial Institutions: Way Forward is a registered not-for-profit charity funded entirely by donations from major banks and financial institutions in Australia. The organisation does not charge clients any fees, commissions, or markups. 100% of client repayments go directly to reducing the client's debt. The organisation was seeded by major banks in 2018 and continues to receive ongoing donations from a broad consortium of financial institutions.

Pricing tiers

Go-to-market motion3 records

Distribution channels3 records

Marketing channels7 records

Core offering

Way Forward Debt Solutions Limited provides free, independent debt management plans for Australians experiencing long-term financial hardship who have multiple unsecured debts and a regular income. The organization negotiates with creditors to consolidate payments into a single manageable regular contribution, then distributes these funds to creditors via direct debit on the client's behalf, ensuring 100% of payments go directly to debt reduction. All services are provided at no cost to clients, funded instead by donations from participating financial institutions.

Product overview

Way Forward is a not-for-profit charity that offers a single core service—affordable debt management plans for Australians experiencing long-term financial hardship. This core service is supported by a suite of free auxiliary tools: the Budget Planner (interactive online budgeting tool), Repayment Calculator (debt payoff calculator), Video Explainers (educational content library), and a Client Portal for managing accounts. The company does not operate a modular platform architecture; rather, these complementary tools support the core debt management service and client education. All services are provided free of charge to clients.

Differentiator

Problem solved

Functional benefit

Quantifiable outcome

• Most plans are set up within approximately six weeks of receiving required information from the client
• +3 more outcomes

Named customers5 records

Segments2 records

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

One partnership is on record.

• Thriving Communities PartnershipcoreStrategic or Co-development PartnerThriving Communities Partnership (TCP) connects organisations to collaborate on supporting financially vulnerable Australians. TCP is listed as a supporting partner of Way Forward.

Scale indicators5 records

Recent moves6 records

Expansion highlights4 records

Direct peers

• Payplan: UK-based free debt advice and DMP administrator, funded by creditors. Operates the same core function as Way Forward — collecting a single payment from clients and distributing to creditors under negotiated hardship arrangements.
• StepChange Debt Charity: Largest UK free debt advice charity offering debt management plans, similar to Way Forward. Both are registered charities that administer free informal debt arrangements for individuals in financial hardship, funded in part by financial institutions and donations.
• Christians Against Poverty (CAP): UK charity providing free debt counselling and debt management plans through local church partners. Comparable to Way Forward in being a free, donation-supported DMP provider serving financially vulnerable consumers.
• GreenPath Financial Wellness: US nonprofit credit counselling agency providing debt management plans and financial counselling. Comparable model: charitable structure, DMP administration, counselling-led service for consumers in financial hardship.
• Money Management International (MMI): US nonprofit credit counselling agency offering debt management plans, housing counselling, and financial education. Directly comparable to Way Forward in DMP administration and donor-supported non-profit delivery model.

Broad incumbents

• National Foundation for Credit Counseling (NFCC): US network of nonprofit credit counselling agencies. Comparable scale and mission: free or low-cost debt management plans, financial education, and counselling for financially distressed consumers.
• National Debt Helpline (Australia): Australia-wide free telephone referral service (1800 007 007) that directs financially vulnerable callers to local financial counsellors and services including Way Forward. Functions as a complementary triage layer feeding into Way Forward plans.
• Financial Counselling Australia: Peak body for financial counsellors in Australia, formerly led by Way Forward's current CEO. Sits at the apex of the financial counselling ecosystem that supplies referrals to Way Forward and adjacent DMP providers.

Regional players

• MoneyHelp (Victoria): State-funded free financial counselling service in Victoria offering advice and hardship support. Operates in an adjacent free-debt-advice space within Way Forward's core geography.

Emerging players

• Credit Counselling Society (Canada): Canadian nonprofit credit counselling service offering debt management plans and bankruptcy alternatives. Closest international analog to Way Forward in delivering a free, non-profit DMP solution at national scale.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/wayforwarddebt
• LinkedInlinkedin.com/company/way-forward-debt-solutions
• Instagraminstagram.com/wayforwardau

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Way Forward - Free Debt Solutions