The internet is a wonderful thing because it brings all the knowledge in the world to your fingertips. As technology advances, people keep finding new ways to use the internet and unfortunately thieves are no different.
Australia has just hit the $50 billion mark for our national credit card debt, according to ASIC. In the 2016-17 Financial Year, Australians spent an estimated $621 million on interest and fees, and it’s time that someone stepped in and protected hard working struggling Aussies.
Your credit file is a record of your financial history. It lists a number of applications, transactions and financial details and gives creditors a snapshot of how you handle your money.
The Banking Royal Commission has revealed a series of scandals from the Big 4 Banks. Craig Meller, AMP’s Chief Executive Officer, has resigned from his position with immediate effect. Known for making money through credit card interest and fees, banks are now under the microscope.
With more than 15 million cards in Australia, Aussies have racked up an impressive $50 billion credit card debt. The average balance owing on each card is $3,333. If you own one or more credit cards, you would know all too well the long term commitment you will need to make to pay that debt down.
In a recent analysis of Debt Rescue data, we have identified there has been a 271% increase in clients entering new Debt Agreements, who have accumulated an Afterpay debt over the last 6 months compared to be previous 6 months.
Having a default listed on your credit file can be scary. Often it isn’t until our credit score is in jeopardy until we take notice of its importance.
If you have a company tax debt, this could have a serious impact on the way you run your business.
If your credit score is a little worse for wear, you’re not alone. We take a look at how you can bounce back from a bad credit score.
Many older Australians are taking on credit card debt as a means to pay for necessities because they don’t have a high, stable income.