Posted on / by payactiv12

Demand For Short Term Credit Skyrockets

One of the less obvious impacts of flat incomes, rising costs and big mortgages or rents is that more Australian households are under financial pressure, and so choose to turn to various unsecured lenders to tide them through.

Many of these are online lenders, offering instant loans, and confidential settlements. Re-borrowing rates are high, once they are on the hook inside the lenders “portal”.

We think more than $1 billion in loans are out there, and our research shows that such short term loans really do not solve household financial issues.