A credit-checking company says there has been a massive rise in the number of people defaulting on their debt.
Veda Advantage says it is concerned the generation that features the most are the baby boomers, who represent more than 20% of the group that is showing growth in default payments.
The company believes the tail end of deals entered into three years ago for purchases with payment holidays that are causing the hike.
It says people's personal situations have changed since they took those contracts out.
Veda Advantage also says more than half New Zealand's trading companies have outstanding debt.
It says more than $12 million worth of this debt is overdue by three to six months, and will probably go into default.
The company says this means a lot of companies will probably be writing off quite large amounts this side of Christmas.