Bonnie had trouble keeping up with her loan repayments, so she was charged more interest than expected. Bonnie wasn’t happy about all the interest charged, so she stopped paying her loan altogether. After she complained, Bonnie’s lender made a fair offer.
Sinead applied for a loan to pay her employees and purchase equipment but could not afford the loan repayments.
After consolidating debt, Kate continued to borrow making it difficult to repay her original debt and leaving her experiencing financial hardship. A financial mentor and lender worked together on a hardship application and refinancing Kate’s lending.
Rebecca received court papers for a debt from an old car loan. Because the debt was more than six years old, under the law the lender should not have tried to recover it. The lender withdrew its court claim and apologised to Rebecca, but she still wasn’t happy.
Min-je bought a car for $13,500 in February. The loan was unaffordable, so when Min-je defaulted the lender repossessed and sold the car in July for $1,500.
When Arjun’s housing costs increased, he contacted a financial mentor for help who noticed that Arjun’s real problems started when a lender approved a loan that was not affordable
A lender miscalculated Prisha’s income, believing all the money paid into Prisha’s account belonged to her, not realising that Prisha received income on behalf of others that she withdrew in cash
A lender relied on old information when determining loan affordability. New circumstances meant Ruby could not afford the new loan.
Jung-min couldn’t keep up with the repayments on his car loan. The lender suggested this was because his circumstances had changed after he took out the loan. We found the lender had failed to make reasonable inquiries about Jung-min’s wages and how many people he was supporting with his income when approving the loan.
A lender lent to Maurice based on the money she was receiving into her account. However, much of this income wasn’t hers to begin with and shouldn’t have been included in the assessment.
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