Loan defaults rose by almost 30 per cent in the last financial year with failures to pay the bills on time up in every Australian state and territory, figures from the nation’s biggest credit check firm have revealed.
And economists say consumers who haven’t experienced a recession are upping their borrowing to levels more than double their income because they are confident the good economic times will continue.
» Loan defaults up almost 30% The Age, 14th September 2007.