Australian consolidating debt loan
Direct Money will also offer loans at higher rates to applicants with good histories, but do not meet the requirements for our lowest rates. 2: Comparison rate(s) based on ,000 unsecured loan, fixed over 3 years, with monthly repayments.
Global comparisons of household debt usually look at the total owed as a percentage of net income.As a comparison, data from the Federal Reserve Bank of New York shows that non-housing personal debt (i.e.“bad debt”) made up 26.3% of America’s personal debt in the first quarter of 2016.There is also the other 8.2% of household debt to consider.If each Australian household owes an average of 0,000, then ,500 of it is “bad debt”.
Australian household debt has steadily risen over the past three decades as more of us aim to own homes and continue to rely on products such as car loans and credit cards.