Topic: Consumer Credit

What happens if a lender tries to recover a debt from you, but you did not know that you were a co-borrower on the loan?

The lender agreed they should not have loaned a further $3,000 to the main borrower without telling the guarantor and offers a settlement that is rejected by the guarantor

When Kahurangi repaid her loan early, her mortgage broker sent her an invoice for the commission the bank had recovered from him. Does Kahurangi have to compensate her mortgage broker for the commission clawed back by the bank?

What happens if your lender fails to disclose a fee in the loan agreement?

Payday loans contribute to a slow slide into financial difficulty, is the lender responsible?

Albert took a payday loan for $300. A year later, the loan had grown to 5 times the initial amount. Albert did not know how to stop the loan from rapidly ballooning.

What happens if you buy a repayment waiver, but you are so badly injured that you are unable to claim against it within the one month required by the contract and your lender declines your claim?

A lender relied on information provided by a finance broker, and did not seek bank statements from a borrower, before granting a loan. It then transpired the loan was unaffordable.

What happens if your identity is stolen, and money borrowed in your name, but you find it difficult to communicate with the lender?

Are you liable to pay a brokerage fee even if you decide not to proceed with the proposed lending?