It is becoming alarmingly apparent that more and more Australians nationwide are falling into the household debt. With ever-increasing interest rates, mortgage repayments are becoming unmanageable and daily living costs are soaring.
Managing Director of the Australian Lending Centre, Chris Riotto, asserts, “We are receiving an influx of customers who just can’t afford to sustain their increasing mortgage repayments and keep up with household costs.Although these people initially had sufficient incomes to meet their repayments, because inflation is now increasing to an unmanageable point, they are now finding it virtually impossible to stretch their incomes enough to make ends meet.”
