you're reading...

Australian News

Debt Mediation on the Rise in the Farming Sector as Banks Tighten Lending

 There has been an increase in Queensland farmers going into debt mediation as banks continue to tighten their belts. The persistence of the Global Financial Crisis since 2008 has seen many farmers to refinance as lending conditions narrow. David Arnold, spokesperson of Rural Financial Counseling Service, says as a result their workload has tripled in the past year and has been such since 2008. Creditors tightening up plus decreasing land values and reduced equity are all factors which have come into play over the last three or four years. Read More