HOME loan repayments and rent in Australia are hurting much more than high petrol prices, data from Australia's largest privately owned debt collection agency shows.
Unleaded fuel prices were approaching $1.70 in Adelaide, Melbourne, Sydney and Canberra yesterday even before crude oil prices reached a record 145 US Dollars a barrel.
Yet less than 2 per cent of consumers nominated high petrol prices as their primary reason for failing to pay an overdue bill, an email survey of Prushka's 80 debt collectors taken in June found.
Mortgage repayments were the number one reason why 19 per cent of borrowers broke a default arrangement, entered into when a bill was 60 days overdue.
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I feel sad for the rates of houses in Australia. I think one can opt for a loan with less interest rates and also consolidate all the loans slowly clearing all the debts.
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Australia home loans
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