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Kochie's debt reduction tips

Veda Advantage’s bi-annual Australian Debt Study reveals the level of debt stress is on the rise, back to September 2008 levels.

One in five (19%) Australians with debt finding it difficult to make repayments, or unsure how they will make their next repayment.

Other worrying facts are that

  • one in seven (14%) Australians have missed a minimum bill repayment in the past three months – up from 12% in September 2009.
  • Of those who had missed a repayment, one in ten (11%) are looking to take on more debt in the next six months.
  • Our research indicates 13% of Australians who are currently struggling to repay their bills, are looking to take on yet more credit.
  • Younger Australians are the most likely to have missed bill payments, with 26% of Australians who have missed a bill payment in the last three months aged between 25 and 34.

Kochie suggests how any family suffering debt-stress can reclaim control of their debt.


  • Own up to your problems
  • Develop a debt reduction plan
  • Make extra payments
  • Don't invest
  • Switch to cash

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