According to a recent article published last week in the Herald Sun newspaper Victoria has been deemed to hold the highest consumer debt than any other Australian state.

Recorded insolvency and debt agreements are soaring and in fact statistics show that from October to December 2007 a total of 1,165 non-business related bankruptcies were registered in Victoria a 9% increase on December 2006.

Debt agreement is a low-cost alternative to full bankruptcy for people who have unsecured debts which total no more than $78.915.20 and when compared against the same period a year ago Victorians had registered 14.46% more debt agreements. During the lead-up to the Christmas festivities 451 new debt agreements were started.

However on the positive side statistics also show that nationwide there was a drop of 3.9% with Southern Australia coming top with a fall in number of 55 closely followed by Queensland (22) and Tasmania (16). In New South Wales and Western Australia it is showing that 9% more agreements were registered compared to the December 2006 quarter.

In a statement issued by Fox Symes a spokesman said that interest rates are affecting families in New South Wales and Victoria. With house prices rising a greater percentage of the population of Sydney and Melbourne are experiencing added pressure. People are trying to cope but the last two increases have pushed them to their limits. More and more counselling is being sought and Fox Symes are struggling to deal with the huge volume of calls.

Are you finding your debts hard to handle? Click through now and find out how Fox Symes has already helped over 14,000 Australians eliminate their debt problems quickly. A free, short phone call is all it takes for you to find out if they can help you too.