Topic: Consumer Credit

When fees are reversed by lenders, how do they factor in a credit to compensate for the compounding interest originally accrued on those fees?

Toby complains to FSCL that his lender provided him credit irresponsibly in 2013. Would the story have been different if Toby took out the credit after June 2015?

Due to health problems, Yvonne’s doctor recommended that she took several months off work. Yvonne had a partner and three children. Her partner worked but Yvonne had been the higher income earner. Without Yvonne’s income, they were unable to meet their car loan repayments. Yvonne applied for financial hardship relief. The finance company declined her hardship application, telling Yvonne she could only apply for hardship relief where there was no income.

Can a person be pursued for payment of an old company debt?

Duplicated payments and incorrectly charged fees increase financial difficulty for Franz.

Unforeseen hardship application declined after borrower sells cars securing a loan.

Gordon’s vehicle was repossessed after he did not keep to several repayment arrangements with his lender. Gordon complains to FSCL about the lender repossessing the vehicle after the pre-possession notice had expired.

Matthew and Coral suffered an unforeseen change in their financial circumstances. They tried to apply for financial hardship relief for their car finance repayments. However, it was a very difficult process and in the end the car was repossessed and sold. Matthew and Coral believed the lender had breached their rights and that they should not have to pay the residual balance owing on their loan.

A lender unilaterally reduces its customer’s credit limit by $38,700.

Loan agreement says the loan balance is $999, why is the opening balance on my account statement $1,279?