Aussies 'increasingly anxious about debt'
Many Australians are getting extremely worried about their debt levels, one financial counsellor has claimed.
Jill Com, an adviser at Financial Counselling, has told the Age that many Aussies are feeling the strain after loading up on cheap credit cards and low-interest personal loans that are now becoming more difficult to repay.
Her comments came in an article looking at the case of Robert Tranter, a 27-year-old bus driver who is considering bankruptcy after failing to make payments on car loans, a motorcycle loan and credit card debts.
Talking to the paper, Tranter said he felt resentful that he had been given credit so easily, even though he had a bad track record with repayment.
Meanwhile, Ms Com added that in the past, it has been far too easy to get hold of cheap credit cards and personal loans.
In a separate article, the paper has noted that an expected rate cut on Melbourne Cup day may come as a big relief to homeowners struggling in the current economic turmoil.