Bank removes ‘roadblock’ for homebuyers

Major banks are beginning to exclude student debt in their serviceability criteria. Picture: NewsWire / Nicholas Eagar National Australia Bank has become the latest lender to ignore some Higher Education Loan Program debt when assessing new home loans. From July 31, NAB says if someone owes $20,000 or less in student debt, it won’t affect…

Regulator to investigate credit repair and debt management sector

The Australian Securities and Investments Commission (ASIC) has announced a probe into credit repair and debt management services amid reports of dishonest practices. The investigation aims to weed out those exploiting financially vulnerable consumers by not meeting debt management terms, charging high fees, or not communicating adequately with customers. ASIC said it is concerned some…

Regulator to investigate credit repair and debt management sector

The Australian Securities and Investments Commission (ASIC) has announced a probe into credit repair and debt management services amid reports of dishonest practices. The investigation aims to weed out those exploiting financially vulnerable consumers by not meeting debt management terms, charging high fees, or not communicating adequately with customers. ASIC said it is concerned some…

Report finds super system is locking out First Nati…

First Nations Australians are being systematically excluded from accessing their superannuation — in retirement, during hardship, and even after death — according to new research from Super Consumers Australia and Mob Strong Debt Help. The report, which surveyed 99 First Nations consumers in the Eastern Arnhem region and consulted 19 financial counsellors nationwide, has revealed…

Why ASIC’s review of the debt and credit repair sector is welcome

The regulator’s review of the debt management and credit repair industry is a critical and long-awaited step toward protecting consumers and restoring industry trust, says Victoria Coster, CEO of credit repair company Credit Fix Solutions. This week, the Australian Securities and Investments Commission (ASIC) launched a comprehensive review into the debt management and credit repair…