A new report by FinCap says the ongoing cost-of-living crisis has led to an increased debt burden for many people.
Photo: RNZ
Financial mentors say problem debt isn’t only a problem for the lowest-paid New Zealanders, and action is needed to stop debt collectors “deliberately distressing” struggling people.
FinCap, which represents the country’s financial mentors, has released its latest Voices report, outlining data for 2024.
It was to be presented at Parliament on Thursday morning.
The report shows mentors are dealing with a growing number of clients, despite the number of people working in the field dropping. From 19,543 closed cases in 2021, there were 25,140 dealt with last year.
The top reason that people were…