An ASIC report has highlighted some shark-like behavior coming back to your Australian payday financing sector, states Jessica Ellerm.
We utilized to phone them ‘loan sharks’ however now they will have the more moniker that is respected of lenders’. Nonetheless, a recently released ASIC report has highlighted some shark-like behavior going back to your sector plus some really stressing trends growing within the ‘emergency’ loan behavior of everyday Australians.
Since 2008, the dimensions of the mortgage market is continuing to grow by over 125%, with $400 million in loans written in the year to 2014 june. Is this a barometer for the drop that is potentially worrying the nation’s quality lifestyle, and sometimes even an indicator regarding the widening gap between your nation’s richest and poorest? Continue reading article