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Aussies turning to debt agreements hits record high

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Australian Broker | 14 Jul 2015, 08:26 AM Agree 0
The number of struggling Australians turning to debt agreements has hit a record high, according to government statistics
  • Danielle McGuire | 14 Jul 2015, 09:42 AM Agree 0
    Could this be as a result of increasing television advertising? Alternatives such as informal agreements should be promoted more. Companies such as Budgeting Works provide solutions which also, in most cases, protect an individual's credit file. Where will this level of personal insolvency take Australia over the next 5 years as lending approvals inevitability fall?
  • john | 14 Jul 2015, 11:10 AM Agree 0
    Try the television advertising claiming to give them an easy way out! fox symes etc are voltures. I rang one time just to hear what they say after i had a client fooled by them.

    I pretended to say I had high debt, but I also told them I could afford it. but wanted it gone.

    They told me they could freeze the interest etc and that it WAS NOT BANKRUPTCY! talk about treading the line.

    The adverts need to declare they are authorised under the bankruptcy act so people truly know what they are signing onto.
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