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Australians Lead World in Personal Debt

By Administrator 17 February, 2015

Recent reports show that Australians are world leaders in personal debt. The Reserve Bank of Australia (RBA) states that in Australia the main contributors to personal debt are household debt (mainly mortgages), credit cards and loans – totalling over $1 trillion AUD.

The latest RBA numbers, released in December last year, show that although personal debt cases are slowly decreasing, Australians continue to borrow strongly for housing and business – both of which can have a heavy impact on personal debt.

With Australian legislation designed to assist first-time home buyers and overall low interest rates, many Australians are currently living beyond their means. Personal debt can be manageable in small amounts, but it can become overwhelming if you are not able to make your repayments as they fall due.

If you have accumulated a large amount of personal debt, Debt Free Australia (DFA) can help you to get it back under control. In operation since 2006, DFA has helped thousands of Australians to rid themselves of unsecured debt. Our personal debt services are provided by our professional team of licensed and registered insolvency practitioners. Call us today on 1800 676 598 to speak to one of our personal debt advisors – no charge or obligation!