Exploitation by Money-lenders
Millions of Australians are being exploited by the money-lenders.
Credit cards cause long agonising debt at interest rates
National credit card debt about $40 billion
About $20 billion of that debt bearing exorbitant interest of close to 20%.
About 15 million Australians carry some form of interest-bearing debt.
The moneylenders target consumers, businesses and farmers who cannot repay the loans easily.
They are supported by regulators and parliamentarians who are happy to see other Australians suffer, and may in fact gain some of the interest paid, by way of dividends or taxes.
Borrowers will benefit if they steadily eat away at their debt to eliminate it and avoid picking up for the debt whenever they can. Buy 2nd hand for lot less. Buy “on special” whenever possible. Find the free give-aways.
Good Banking is About Customers. GBAC offers good solutions for those who are battling out-of-control debt.
