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Debt collectors have strict rules on how they can treat debtors

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Changing face of Australian debt

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AUSTRALIANS once were a nation of savers. But next month the Bureau of Statistics will tell us that households owe $1 trillion in debts and other liabilities, making us world-class debtors.
Our debts are now seven times [...]

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Debt binge: now is a good time to learn from our mistakes

What are you going to do with the $47 a month you’ll save on average home loan repayments after this week’s rate cut? If the money isn’t needed to meet increased fuel and food costs, there’s a strong argument for maintaining your mortgage payments; for pretending the rate cut didn’t happen and using those extra [...]

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Exit with strings

The Government agency overseeing personal insolvency in Australia has been receiving proposals for debt agreements at a rate of 1000 a month – a record pace that, if maintained, could mean a 50 per cent jump in such insolvencies this financial year.
David Bergman, the inspector-general of bankruptcy and acting chief executive of the Insolvency and [...]

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