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Personal Loans News

The latest personal loans news and tips

Mark Bristow

Personal Finance Editor

New limits for payday loans and consumer leases

The federal government is drafting legislation designed to help protect vulnerable Australians from being stung by payday loans, consumer leases, and similar small credit products.

Personal Loans

24 Oct, 2017

2 min read

New limits for payday loans and consumer leases
Mark Bristow

Personal Finance Editor

Bankruptcies and debt agreements hit highs

More Australians are struggling to manage debt, mortgage stress and financial hardship, with the number of bankruptcies and debt agreements around the country increasing over the past three months.

Personal Loans

19 Oct, 2017

2 min read

Bankruptcies and debt agreements hit highs
Mark Bristow

Personal Finance Editor

NAB and CBA lead Big Four in CCR

Both National Australia Bank (NAB) and Commonwealth Bank of Australia (CBA) have announced that they will participate in Comprehensive Credit Reporting (CCR) in 2018, allowing more Australians the opportunity to improve their credit ratings by exercising positive borrowing habits.

Personal Loans

10 Oct, 2017

2 min read

NAB and CBA lead Big Four in CCR
Nick Bendel

Property & Personal Finance Writer

Boss of dodgy payday lender cops punishment

A financial services director has been banned from engaging in credit activities for three years after being found guilty of running an unlicensed payday lending business.

Personal Loans

09 Oct, 2017

2 min read

Boss of dodgy payday lender cops punishment
Alex Ritchie

Personal Finance Editor

NAB commits to helping low income Australians

One hundred thousand no and low interest rate personal loans will be provided to low income Australians by NAB.

Personal Loans

19 Sep, 2017

3 min read

NAB commits to helping low income Australians
Mark Bristow

Personal Finance Editor

Consumer credit insurance confusion spurs ASIC overhaul

The Australian Securities & Investments Commission (ASIC) has commenced work with representatives from the banking industry on reforming Consumer Credit Insurance (CCI) in Australia.

Personal Loans

02 Aug, 2017

3 min read

Consumer credit insurance confusion spurs ASIC overhaul
Mark Bristow

Personal Finance Editor

Personal loans in high demand

An increasing number of Australians are applying for personal loans and turning away from credit cards and mortgages, according to new figures from Equifax.

Personal Loans

19 Jul, 2017

3 min read

Personal loans in high demand
Mark Bristow

Personal Finance Editor

Aussies borrowing more conservatively

While Australians are pouring more money into their homes, we’re not borrowing as much with our personal loans or credit cards, according to new figures from the Australian Bureau of Statistics (ABS).

Personal Loans

13 Jul, 2017

2 min read

Aussies borrowing more conservatively
Patricia Babalis

ASIC orders Cash Converters to pay out $12 million

An ASIC investigation into payday lender Cash Convertors has found that $10.8 million must be refunded to consumers who were wrongfully issued loans and a further $1.35 million will be paid to ASIC in penalty infringements.

Personal Loans

09 Nov, 2016

3 min read

ASIC orders Cash Converters to pay out $12 million
Laine Gordon

Head of Public Relations

Young Australians file for bankruptcy

In the first three months of this year, 4774 Australians went bankrupt - that's 53 people per day, according to the federal government's Insolvency and Trustee Service.

Personal Loans

15 Apr, 2013

3 min read

Young Australians file for bankruptcy