Almost six million Australians are struggling to make loan and debt repayments, but many are too ashamed to ask for help.
The latest research released by the Moneysmart website, which is run by the Australian Securities and Investments Commission, found 47 per cent of adults with debt, the equivalent of 5.8 million people, have struggled to pay the bills in the past 12 months.
Cost of living pressures, reduced income and unexpected expenses were the main reasons.
However, four in 10 of those people were too ashamed or embarrassed to reach out for help, with many feeling like a failure.
People said they would rather sell their belongings and assets or get a second job before applying for financial hardship…
