Topic: Consumer Credit

After making payments for years towards 11 loans, Cheryl gives up paying. Was there any way out of her debt spiral?

What happens when a borrower wants to change payments from monthly to fortnightly, but the payments do not reduce.

Mihirangi bought goods from a mobile trader and soon after defaulted on her payments. Did the mobile trader comply with the Responsible Lending Code?

Peter obtained a loan in 1996. He defaulted on the loan and a few years later the debt collection agency stopped pursuing the debt. In 2018, he went back to the lender for another loan. The lender asked him to continue repayments on the old debt

Caleb took a consumer loan for a car on 30 August 2016. Caleb defaulted on a number of payments and was charged a number of default charges by the lender. Were the charges reasonable in light of the facts and under the CCCFA?

Lilly borrowed a lot of money to purchase a new car. A few months later the car was repossessed and Lilly was left with no car and a big loan.

Miranda was swamped with creditors when her estranged husband died and named her as executor. Was she allowed to pay for the funeral before she paid them back?

What happens when you are in default of your loan repayments, and your lender debits your bank account leaving you with only $35 to pay your weekly expenses?

Payday lender debits account early causing dishonour and additional interest and fees.

Elizabeth and Philip are served with a Property Law Act (PLA) notice. Elizabeth’s father does not want the home sold as he benefits from its rental income. Was it fair for the lender to serve the PLA notice?