One in four New Zealanders believe they will have higher debt levels three months from now.
A new survey from Dun and Bradstreet focuses on the country's expectations for credit applications, credit usage and debt performance over the September quarter.
Spokesman John Scott says 31 per cent offamilies with children have indicated they will turn to credit cards to pay for items they otherwise could not afford. He says it highlights that consumers are struggling to pay their bills, because of rising fuel costs, increased food prices and general expenses being pushed up.
Scott says people should always talk to their credit provider about setting up a payment plan, and if individuals are in debt they need to address the situation head on. He says payment defaults are listed on a consumer's credit file for up to seven years.
Key findings:
- 24 per cent of New Zealanders expect to have higher debt levels in three months.
- Families with children and people under 50 are showing the most significant signs of problematic credit card use
- New Zealanders earning less than $30,000 and those with children have the highest expectations of missed bill payments in September quarter
- Credit demand is strong, particularly for those aged between 18-34
