Millions of Australians struggling to make loan repayments: gov't report

STORY: Millions of Australians struggling to make loan repayments: gov't report SHOOTING TIME: June 4, 2024 DATELINE: June 6, 2024 LENGTH: 0:02:15 LOCATION: Canberra CATEGORY: ECONOMY SHOTLIST: 1. various of banks in Australia 2. various of street views in Australia 3. various of the Parliament House STORYLINE: Millions of Australians have struggled to make debt repayments in the last 12 months, government research has found. The research, which was published by corporate regulator the Australian Securities and Investment Commission (ASIC) on Monday, found that 47 percent of Australian adults with debt -- the equivalent of 5.8 million people -- have struggled to make repayments in the last 12 months. A survey conducted by YouGov on behalf of the ASIC found that cost of living pressures, reduced income, and unexpected expenses were the most common reasons given for financial difficulties. Thirty percent of respondents to the survey said they would not seek hardship assistance from their bank or lend