Topic: Consumer Credit

Tony bought a car with finance. The car was repossessed and sold to pay his loan. Tony was surprised to learn that the finance company had also registered an interest on his second car which was not part of the loan agreement. Tony complained to FSCL asking the finance company to remove their interest.

Anika purchased a home entertainment system on credit from a mobile trader. A few months later she realised she couldn’t afford her loan repayments on her beneficiary income. Should the mobile trader have given this credit to Anika?

Keith’s routine surgery for his heart condition goes drastically wrong, and he becomes disabled. When he contacts his lender to activate a repayment waiver attached to his loan the lender says it will not pay.

Before Riccardo’s loan to purchase a car was approved, a car yard let him drive a car away. When the car yard took back possession of the car, Riccardo complained about the lender.

Janet has been paying off her daughter’s loan for the last 10 years. 3 years ago, the loan was transferred into Janet’s name. Was this transfer in breach of the CCCFA or the Responsible Lending Code?

Deena arranged a loan for a new car. Information in Deena’s loan application, which was filled in by a dealer, was inconsistent but the lender relied on the information regardless. Deena entered unexpected hardship and could not afford to pay the loan. The lender tried to repossess the car, but Deena would not surrender the car. Was the repossession lawful and should the lender have lent money?

Sorina’s debt to a lender was assigned to a debt collection company. When Sorina missed some payments to the debt collection company, it started charging default fees of $70 per payment. Could the debt collector company charge these fees?

Suravi topped up her loan with a loan company in 2018. At the same time, she purchased repayment waiver cover to protect her against sudden illness. Later in the year, she became ill and claimed on her repayment waiver. The claim was accepted but the pay-out only included the month in which the claim was approved and not the month’s payment when Suravi became ill.

What happens if you have a pre-existing medical condition that you don’t know about but may be contributing to your injury? Should your insurer pay?

Mary applied for a car loan with her partner. Mary complained that she was under duress and forced into the loan application. Can Mary return the car and unwind the deal?