Business
Banks pressuring customers to make unrealistic loan repayments as deferrals end – ABC News
As a pause on home loan repayments begins to lift, banks are asking customers to make large lump sums or add $1,000 a month to their repayments to clear up what…
Borrowers are being pressured by banks to make “significant, bulk” payments as loan deferrals begin wrapping up.
Key points:
- The Australian Prudential Regulation Authority says repayment deferrals must end on March 31
- The National Debt Helpline said one person was told he had to pay $20,000 in arrears before regular payments could restart
- Financial counsellors are concerned the pressure from banks will send some people to payday lenders
Last year, the economic impact of coronavirus forced banks to…
Continue Reading
-
General23 hours agoTyler Wright soaks up Bells Beach return as poor conditions at Rip Curl Pro sees men’s opening round called off
-
General23 hours agoTruck driver charged with causing death by dangerous driving after highway crash
-
Noosa News21 hours agoGyrocopter pilot injured in crash-landing on K’Gari, north of Brisbane
-
General18 hours agoLiberals offer help to start-ups and set goal for small business growth