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Financial hardship doubles - Centrix

Staff reporters
Mon, 04 May 2020

More than 20,000 credit accounts have been flagged as being under “financial hardship”, more than doubling in the past month and up a third during the past week alone, according to credit bureau Centrix.The number of Kiwis opting for repayment “holidays” since the covid-19 lockdown has soared to 40,000, with 66 percent of those across telco and energy, 20 percent for mortgages, and 7 percent on loans and credit cards. About 2,000 people had multiple accounts on a payment holiday option, the agency said.  Centri...

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