One Simple Move Can Unlock Thousands By Christmas
Rising Loan Arrears Prompt Loansmart Founder to Urge Kiwis to Restructure Smarter Before Christmas
With new data showing nearly one in ten New Zealanders are behind on personal loan repayments, Loansmart founder Murray Greig is encouraging borrowers under financial pressure to seek advice early and explore ways to improve their loan structure before Christmas.
According to the latest Centrix Credit Indicator Report (August 2025), more than 480,000 New Zealanders are currently behind on at least one repayment — around 12.4 percent of all credit-active consumers. While late-stage arrears have eased slightly and mortgage arrears have dipped to 1.38 percent, financial stress remains widespread across personal lending.
“These numbers represent more than data points — they reflect real people under pressure,” says Greig. “As living costs rise and the holiday season approaches, we’re hearing from more households who want to understand how they can consolidate debt, lower repayments, and create a bit of breathing space in their budgets.”
A Practical Option: Restructuring Debt
Greig says many New Zealanders could benefit from reviewing their existing loans rather than taking on new debt.
“For some borrowers, a simple restructure can make a significant difference,” he explains. “By consolidating multiple debts into a single, well-structured loan, people can often reduce repayments and free up room in their budgets before Christmas. It’s not about borrowing more; it’s about borrowing smarter.”
Loansmart data shows that clients who have recently consolidated debts have reduced their weekly repayments by anywhere from $100 to $400, creating financial flexibility and stability ahead of the summer months.
Educating Borrowers Through Real Stories
Each month, Loansmart highlights two real-life borrower stories to demonstrate how restructuring can make a measurable difference. These case studies show how everyday New Zealanders - from families managing multiple debts to individuals caught by unexpected expenses - have been able to lower their repayments and regain control through smarter loan structures.
The company says these stories are shared to educate and inform, helping people understand that borrowing smarter, not necessarily more, can improve their financial wellbeing and give them room to breathe.
A Pioneer in Online Lending
Murray Greig’s perspective comes with the benefit of experience. With a 40-year career in lending and finance, he began in New Zealand’s banking sector before moving to the UK, and later founded the country’s first online lending companies, Finance Direct, in 1998.
Seeing that large banks were not always meeting customer needs, Greig launched Loansmart to provide a more personalised, transparent approach to lending. Over the past 17 years, that philosophy has helped thousands of clients restructure debt and improve financial stability.
Guided by Integrity and Industry Standards
Loansmart’s approach is backed by its status as a licensed Financial Advice Provider and proud member of the Financial Services Federation (FSF) - the professional body representing responsible lenders across New Zealand. They are the only Loan Brokers that are affiliate members.
“As members of the Financial Services Federation, Loansmart is committed to the highest standards of responsible lending and integrity,” Murray says. “FSF membership gives us access to regulatory guidance, training, and best-practice frameworks, ensuring our advice remains compliant, transparent, and in our clients’ best interests.”
The FSF Code of Conduct requires members to act with due care and diligence, uphold the public interest, and maintain professionalism in all dealings — principles Loansmart says are central to its mission of improving clients’ long-term financial wellbeing.