Credit accounts in arrears up 14% in July on a year ago

Tue, 02 Aug 2022

The number of credit accounts in arrears was up 14% in July compared to July last year but down slightly from May with vehicle arrears beginning to creep up, the latest data from credit reporting company Centrix showed.“Products like mortgages and vehicle loans – secured lending products – are usually the last credit payments people let slip, which indicates we could be starting to see signs of financial stress,” said Centrix managing director Keith McLaughlin.“However, it’s encouraging to see home loans in a...

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