One of Australia’s biggest reporting agencies says the global financial downturn is still hurting people, with 1 in 6 Australians finding themselves having to struggle with debt.

Veda Advantage says a fair 20% of those in debt are actually looking for additional credit to help pay off their existing debts. In these tough economic times Australians have really felt it hit their pockets.

The survey conducted by Veda comes at a time when a growing number of economists are starting to think that the worst of the global downturn is coming to an end. However there continues to be a segment of society that is still doing it tough – this could also be associated with the now larger unemployment rate.

About 12% of Australians have missed a required minimum monthly payment on a credit contract in the past three months, some having missed at least 2 or more and may are looking for debt consolidation.

Of people with a mortgage, 13% were late paying a household bill in the same time frame. Nearly a quarter of those struggling to pay bills owe more now than they did a year ago.

If you are struggling with debt, and would like to get out of debt now, a debt agreement may be the answer. Contact Australian Debt Agreements right away by phoning 1300 123 328 or fill in the Enquiry form

Topics Covered: Debt Agreement, Debt Consolidation, Debt Consolidation Loans, Clear Your Debts