In figures which were shared yesterday, New Zealand's Baycrop collection agency has revealed that more and more Kiwis are struggling to repay debts, as debt levels have seen a sharp 50% rise in the last three years. The average debt due for collection, according to agency revelations, now stood at $814, a steep rise more from 2006's figure of $544.

The figures also shared that people were now taking nearly 50% longer to repay their debts which included mortgages, fees and fines, only 40%, on the other hand, were keeping up with the payments.

Chief Executive of Baycrop Geoff Harper shared that the debts in the country had increased in three ways - number, size and quantum, and the economic downturn, which the whole world is crunching under, has hit NZ's 46 to 65 age group the most. People who were still young, on the other hand, tended to be more careful with their finances.

Baycrop is expecting the debt issue to continue sometime till the end of next year, post which, everyone is hoping the current trend will come to an end.