Amid the ongoing fallout of the Hayne banking royal commission, another area of financial services has been subject to quieter reforms: the thriving market for debt agreement and debt consolidation arrangements.
As anyone who listens to commercial radio would attest, theres no shortage of providers spruiking their wares as a panacea for indebted consumers for a hefty fee of course.
Debt agreements are binding contracts to repay an agreed amount to creditors over a certain period, while debt consolidation merges several troublesome debts into the one facility.
According to the listed FSA Group (FSA, $1.04), business is booming.
Consumer debt levels are at a record high, new inquiries are increasing and demand for our product and ser…
Read the full article at: https://www.sharecafe.com.au/2019/03/28/the-booming-debt-consolidation-sector/