Veda Advantage News & Media Feed

Veda Advantage Consumer Credit Demand - April to June 2010

Mortgage Applications down 20%
Demand for Credit Cards and Personal Loans flat

28 July 2010: Veda Advantage's quarterly Consumer Credit Demand Index, released today, shows consumer credit demand has not yet returned to pre-Global Financial Crisis levels. Credit card and personal loan applications for the April to June quarter remained flat (-0.2%) year-on-year. The Veda Advantage index also revealed the largest quarterly drop in mortgage credit demand in the 6 years CDI has been measured, down 20% year-on-year.

Responsible Lending Obligations: Find out how Veda Advantage can help

As a credit licensee, you must decide how you will meet the responsible lending obligations

To find out how Veda Advantage can help with your Responsible Lending obligations visit www.vedaadvantage.com/responsiblelending

'Phoenix Companies' on the Rise in 2010

Credit check a company and its individual directors to minimise business risk

5 July 2010: New research reveals a significant rise in the number of 'phoenix companies'* incorporated in the wake of the global financial crisis. Phoenix companies are businesses which are formed on the remnants of a failed company, and are often used as a means of evading creditors or creating the impression of a clean company history.

Credit Businesses Unprepared for Responsible Lending Law

Five steps to get compliance-ready ahead of 30 June deadline

1 July 2010: Veda Advantage research* suggests many Australian mortgage brokers, credit providers and finance companies are unsure how to implement responsible lending requirements, despite registering ahead of the 30 June 2010 deadline for the Federal Government's National Consumer Credit Protection (NCCP) law - encompassing 'responsible lending' obligations.

Australians Fail to Act on ID Crime Concerns

80% of Australians worry about identity theft
70% haven't taken simple measures to protect themselves

7 June 2010: New research released today by Veda Advantage* indicates four in five (80%) Australians are worried about identity crime, yet only 30% have taken simple measures, such as buying a personal shredder, to protect themselves from the world's fastest growing crime**.

Business Credit Demand Index – Jan to March 2010

SMEs show cautious optimism - with first consecutive monthly increases in first quarter since 2007

21^st May 2010: Veda Advantage's Business Credit Demand Index, released today, shows business credit enquiries grew steadily in the first three months of 2010, with business credit applications for the January to March quarter increasing by an average of 3% over the same period in 2009.

Veda Advantage Consumer Credit Demand - January to March 2010

Mortgage Applications down 15% year-on-year
Credit Cards and Personal Loans down 2% year-on-year
Consumer intention to pay down debt

Australian Debt Study: Debt Stress Increases

Increasing numbers of people missing payments
Government must act to protect vulnerable Australians from debt trap

Used Car Buyers Beware: 13% of Vehicle History reports Reveal Car Damage

99% of Australians question the legitimacy of information provided by individuals selling a used car.

31 March 2010: Research from Veda Auto's new consumer vehicle research site, Carhistory.com.au, shows most Australians (99%) question the accuracy of information provided by individuals selling a used car. The study shows concerns are justified, with one in two Australians (53%) who have been in an accident, had their car repaired and have resold their car, failing to tell potential buyers about past repairs.

Veda Auto launches Carhistory.com.au

New website offers car buyers the full history on used cars

31 March 2010: Veda Advantage's auto business, Veda Auto, today announced its new consumer vehicle history research tool and website, www.Carhistory.com.au, a must-visit website for Australians when buying a used car.