One third find repayments harder

More than a third of households say that they are finding debt repayments more difficult now than a year ago according to a survey published by Veda Advantage.

More evidence is emerging of a growing debt divide with the release of a study from Veda Advantage showing that only 19 per cent of people who have at least one credit facility are confident about their ability to meet repayments.

Veda says that 79 per cent of adult Australians have at least one credit product and have 1.7 loans on average.  More than four in five, or 81 per cent, of those with debt say they are concerned about their ability to make repayments over the next 12 months.

Thirty five per cent say they are finding it harder or much harder to make repayments than they were 12 months ago.