If you find yourself in the situation that you are unable to pay your credit card debt balance off each month then there are steps you can take to reduce your interest charges.
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Not all credit cards are created equally. And so it makes it that much harder to decide which credit card offer to choose. There are many factors you sh.....
20 per cent struggling with repayments 14 October 2009
The Reserve Bank’s aggressive interest rate cutting has helped keep loan arrears and defaults to a minimum over the past year but almost one in five Australians are still struggling with their financial commitments.According to the latest Veda Advantage debt study, released yesterday, 16 per cent of people are having difficulty repaying debts and 21 per cent of those are likely to apply for credit over the next six months, saying they are having difficulty paying debts.The survey, conducted by Galaxy Research for Veda, revealed that 12 per cent of people have missed a required minimum payment in the past three months.Among people with a mortgage, 13 per cent were late paying a household bill in the past three months.One in three said they were concerned that rising interest rates would have an impact on their ability to repay debts.
