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Consumers need to wise up on credit card debt

Banks are being urged to do more to help consumers in a debt trap due to mounting credit card bills

File photo dated 03/09/13 of credit cards. Source: Press Association

One in six Australians is struggling with credit card debt they may never be able to repay, according to alarming research by the financial regulator. An Australian Securities and Investments Commission (ASIC) review into millions of credit card accounts shows many consumers are overwhelmed by debt. Kulasegaram Sanchayan reports in Tamil with a feature written by Hannah Sinclair.


 

 

 


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