Servicing high-cost loans an increasing burden
Crippling debt is helping to keep as many as 10,000 Dunedin people trapped below the poverty line, according to new research by Presbyterian Support Otago.
Tuesday, November 11th 2003, 1:24AM
by The Landlord
The agency's director of community mission, Dennis Povey, said many were trapped in a cycle where inadequate income pushed them further into debt every week.
Another disturbing trend was the increasing use of high-cost loans, which now made up 24 per cent of the debt burden carried by poor families.
Read More - Opens in a new window
| « Cullen Believed To Be Bluffing Over $ | Lianne Dalziel: Address to Master Builders » |
Special Offers
Commenting is closed
|
|
Printable version |
|
Email to a friend |
