Personal loan problems on the rise
Australia’s biggest home lender Commonwealth Bank has reported a ‘sluggish’ third-quarter profit of $2.3 billion. Commonwealth Bank reported that personal loan arrears remained “elevated”.
Personal loan repayments are often fixed and sometimes inflexible. If you are having trouble repaying your personal loan, perhaps changing to a cheaper loan could be the answer.
Alternatively, your lender is obliged to assist you if you claim financial hardship through unforeseen circumstances.