What is stopping you from paying off your loans?

Experian reports that comprehensive credit reporting is good for borrowers and credit card applicants because the old negative credit reporting system didn’t take account of good credit behaviour.

Now lenders can access a list of credit enquiries clients have made, type of active credit accounts, credit limits and monthly repayment histories.

88 per cent of Australian survey participants said day-to-day expenses like the rent, mortgage, groceries and bills are barriers to paying down debt.

Source: Mortgage Business