The countrys chief money regulator has revealed that nearly one in two Australians with debt are struggling with their repayments. And this is the news the Reserve Bank shouldnt ignore when it meets on interest rates on June 18.
The Daily Telegraph has run a valuable story today counselling those under debt pressure that help is available. As interest rates remain at 12-year highs, a study by the Australian Securities and Investments Commission (ASIC) found 5.8 million people have found it tough to repay debts, but many refused to seek help, the Teles Anthony Keane tells us. Three out of 10 people said they would not seek hardship assistance from a lender, while many said they would prefer to sell assets or get a second job to deal with …
Read the full article at: https://switzer.com.au/the-experts/peter-switzer/debt-survey-warns-rba-not-to-raise-rates/