The Debt Trap Report

cameron@tascoss.org.au

31 January 2020

    The Stop the Debt Trap Alliance recently released new data that shows the scale of Australia’s payday lending crisis.

    Key findings from the report highlight the amount of payday loans undertaken in Australia will reach a staggering $1.7 billion by the end of 2019; that digital platforms are adding fuel to the fire with payday loans that originate online expected to hit 85.8% by the end of 2019; and that the number of women using payday loans has risen from 177,000 in 2016, to 287,000 in 2019.

    Read the report.