Borrower beware: how responsible lending changes could put more vulnerable Australians in debt
The Guardian
.
.
.
.
Outside the halls of power, the proposed new laws have many asking what the government has learned from the banking royal commission
Carmel has one close friend, two dogs and a $25,000 debt she is paying off at $114 a fortnight.
How the 66-year-old pensioner from the outer suburbs of Melbourne came into debt is a long story. An alcoholic, Carmel quit drinking two years ago only to develop a television shopping habit. When she maxed out a $4,700 credit card, she went to her bank to take out a loan to cover the bill and maybe make some repairs to her home.
The Guardian
.
.
.
.
Outside the halls of power, the proposed new laws have many asking what the government has learned from the banking royal commission
Carmel has one close friend, two dogs and a $25,000 debt she is paying off at $114 a fortnight.
How the 66-year-old pensioner from the outer suburbs of Melbourne came into debt is a long story. An alcoholic, Carmel quit drinking two years ago only to develop a television shopping habit. When she maxed out a $4,700 credit card, she went to her bank to take out a loan to cover the bill and maybe make some repairs to her home.