Monika Lacey: Centrix Chief Operating Officer on the number of consumer arrears dipping to its lowest point in four years

The number of people behind in their repayments is at its lowest point in four years.  Centrix's latest Credit Indicator report reveals arrears levels across mortgages, personal loans, credit cards, and auto-lending are all down.  The number of people behind on their repayments in May was 432,000 – 12.5% lower than a year ago.  89,000 people are 90 or more days overdue, which Centrix Chief Operating Officer Monika Lacey told Mike Hosking is a fairly low number, and one that has been decreasing over the years.  She says once you’re in that position, it can be harder to get out of it, so it’s important to talk to your credit providers as early as possible rather than burying your head in the sand.  LISTEN ABOVE See omnystudio.com/listener for privacy information.