Nation of Debt: Consumer debt drops by billions, but missed payments are on the rise


Concerns loom as cost of living pressures mount. Photo / 123RF

Personal consumer debt has fallen sharply amid the Covid-19 pandemic, but there are concerns about how borrowers will repay it as cost of living pressures mount.

Reserve Bank figures show consumer debt fell by

“We were tracking right away, but we’re starting to see a slight increase in auto loans, and personal loans saw an increase about a month ago.”


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