How mobile phones can impact your chances of getting a loan

Mozo

Thursday 01 November 2012

It seems unlikely on the face of it, but the fact is that mobile phones are damaging a lot of people's ability to gain access to personal loans.

According to the Telecommunications Industry Ombudsman, there has been a spike in complaints in recent months from people who have fallen into arrears with their network provider.

Worryingly, there has been an 18 per cent rise in the number of Aussies contacting the body because they have been classed as credit defaulters while they are in the process of disputing their bills, Sky News reports.

"Credit listings can have very significant impacts on people – affecting applications for credit, including for housing and personal loans," ombudsman Simon Cohen commented.

The general uptake of personal finance has been quite positive of late, with Veda recently reporting a seven per cent rise in demand between July and September 2012 when compared to the corresponding period in 2011.

As long as people are managing their debts properly, it is encouraging to see so many Aussies being in a position to borrow money.

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How mobile phones can impact your chances of getting a loan

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