Topic: Consumer Credit

In 2005 Dennis and Brenda and their son Stuart borrowed $10,000 from a finance company to purchase a vehicle.

In August 2013 Bridget purchased goods from a company, The Right Stuff, whose salesman came to her home. The total cost of the goods was $4,144 to be paid by fortnightly payments of $102.

Loan company and complainant agreed to a new contract restructuring the complainant’s debt. Complainant understood the new contract reduced the balance in exchange for increased payments. Loan company was threatening repossession of complainant’s property, including valueless items, without following the correct process. The contract significantly changed the nature of the contract between the loan company and complainant. Deceptive conduct found and complaint settled.

Bruce applied for a $100 loan over the telephone. The finance broker’s staff member advised Bruce he would have to pay the finance company $105 and the finance broker $155.

You don’t agree with the level of the cancellation fee you incurred when you cancelled your lay-by agreement. Can FSCL help?

Michael took out a car After Michael defaulted on payments, the lender obtained an attachment order on Michaels’ wages. When Michael finished his payments under the attachment order the lender filed a new claim for outstanding default interest. Michael believed he has repaid the debt. Could the lender claim further interest?

Judith has an old loan to a finance company. She is worried the finance company will repossess her current vehicle and force her to sell a property she owns. She also does not agree with the balance of her debt. FSCL investigates.

You’ve paid an amount under an attachment order in full and the finance company says you still have a balance to pay, being default interest and fees which have accrued. Can the finance company do this?

Are you entitled to cancel a contract to purchase goods from a door to door salesperson when the goods are not delivered in time? Can you be charged a cancellation fee?

Darryl and Petra had purchased a number of vehicles at auction with finance provided in each case by Bestcars Finance Limited (Bestcars).