Financial stress through the roof as interest rate hikes come home to roost

Original article by David Taylor
abc.net.au – Page: Online : 9-Jul-24

The National Debt Line received 145,166 calls in the 2023-24 financial year, the highest number of calls in four years. Financial counsellor Mike Dunkley says he is experiencing his busiest time since he has been with the NDL, with calls increasing over the latter half of 2023 as the impact of interest rate increases began to take their toll. Dunkley says that most of the calls that the NDL gets are about mortgages and rents, while it has also been getting some calls about the Australian Taxation Office in recent months. For his part, Financial Counselling Australia CEO Peter Gartlan notes that the demand on financial counsellors has gone through the roof in recent times

CORPORATES
AUSTRALIAN TAXATION OFFICE, FINANCIAL COUNSELLING AUSTRALIA LIMITED

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