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Australian Personal Debt Survey

Australian Personal Debt Survey

The purpose of this debt survey is gain insight into the personal debt of Australians over 18 years of age. Ensuring our debt relief solutions align with today’s needs.

At Debt Mediators we are always working to improve our financial solutions to debt. Peoples needs are constantly changing, and so is the way we provide assistance to individuals struggling with unmanageable debt. Completing this debt survey allows us to gain a deeper understanding of spending habits in Australia to identify areas of improvement. Your feedback today will shape the products and services we provide tomorrow.

The debt survey takes less than 5 minutes to complete, and your responses are 100% private and confidential

Australia has the world’s highest household debt per Gross Domestic Product ratio, preceding the United States.

The country holds about 2 trillion dollars in unconsolidated household debt and 1.6 trillion dollars of debt in GDP. Over the past 30 years, household debt per inhabitant has dramatically increased and puts our country at risk.

In Australia, private debt refers in majority to mortgages and credit card debts.

Public policies over the past 20 years have enticed citizens to take on loans rather than save their incomes. In addition, general inflation and increase of housing prices caused many Australians to be tens of thousands of dollars in debt.

What We’ve Found

The completion of this survey helps us understand our customers’ situation and paint a clearer image of in-debt Australians nowadays:

  • Are younger people borrowing more?

Data from the Australian Bureau of Statistics indicates an increase in loans held by young people to afford their first home over the last 10 years, despite little salary growth over that same period of time. The value of their credits now reach 330,700 dollars, approximately  50% more than in 2006.

Fill out our survey to help us determine the age and level of debt of our customers.

 

  • Do people owe more than what they earn?

 

The 2015 Wesley Mission Report shows that 44 percent of households in New South Wales experienced financial stress and that 38 percent spent more per month than they earn.

We want to know how many of our customers’ expenses exceed their incomes.

 

  • Do mortgages still constitute the majority of personal debts in Australia?

 

According to a 2015 study by the National Centre for Social and Economic Modelling (NATSEM), 56,3 percent of personal debts in Australia are mortgage debts. Yet other studies suggest that student loans and credit card debts are becoming the primary sources of debt in Australia.

Help us determine the main cause of debt in Australia by answering the questions in our debt survey.

 

  • Which option do most people choose to relieve their debts?

 

Many Australians struggling with unmanageable debt opt for bankruptcy.  There are many forms of debt relief available of which many are not aware. Be sure you investigate all the options and weigh up the pros and cons of each solution before making a commitment. Should you require professional guidance Debt Mediators provides a free debt analysis to persons struggling with more than $8,000 of unsecured debt.  Call today and discover a way out of debt.

Struggling with more than $8,000 of unsecured debt? You could be eligible for debt relief! Discover how to stop debt collector calls, freeze interest and fees, reduce payments and only pay back what you can afford. Start now with a free consultation

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