You are absolutely right Pioupiou debt rollovers often occur...

You are absolutely right Pioupiou debt rollovers often occur when the borrower/debtor has the misfortune to suffer a severe reduction in salary due to a health issue which precludes them from holding a previously held higher paying job. The current regulations expect that the lender shows compassion in such circumstances and rolls the loan over a much longer time frame to accommodate the reduced payments. If ASIC want to consider that compassionate moves of this nature indicate the loan should not have been approved in the first place I would imagine that any subsequent court action would have the matter quashed immediately. I have been in the game and rolled over plenty of loans for plenty of very unfortunate families who ended up in situations which were unavoidable - and whats more they were very grateful. Rollovers have to be carefully examined individually and not grouped into some misguided general statement.