The fees of our fathers
Leighton’s father passed away after taking out a mortgage. The lender charged over $15,000 in mortgagee sales fees to the estate, even though the sale didn’t go ahead. Was the lender entitled to charge $15,000 in fees?
Topic: Finance and loans
Car collateral confusion
Is it unfair for a finance company to require a car yard to pay off all its borrowings before it releases its security over any of the vehicles in the yard?
Lawless loans?
Why were Wiremu’s parents paying higher interest rates to a third-tier lender than others were being offered?
Personally guaranteeing a commercial loan
Carol’s business was placed into liquidation and wound up. However, Carol had signed a personal guarantee for a loan to the business to purchase two trucks. The trucks were sold and the finance company pursued Carol for the residual balance. At the same time, Carol had issued proceedings against her ex-partner in the Family Court for the division of their relationship property.
‘Con company + coercion = catastrophe’
Vijay signed for two loans with a finance company on behalf of his employer’s company and gave personal guarantees. Vijay resigned from the business after not being paid and shortly afterwards the business wound up. The finance company repossessed and sold some of the business’s assets but then contacted Vijay to collect the balance of the debts. Vijay said he couldn’t pay and the finance company said it would have to start debt collection which may result in Vijay losing his house. Is there anything Vijay can do?
Personally guaranteeing a commercial loan
Carol’s business was placed into liquidation and wound up. However, Carol had signed a personal guarantee for a loan to the business to purchase two trucks. The trucks were sold and the finance company pursued Carol for the residual balance. At the same time, Carol had issued proceedings against her ex-partner in the Family Court for the division of their relationship property.
Equity release loan not so equal for beneficiaries
Belinda learns her claim to her parents’ estate could be compromised by an equity release loan they had agreed to in 2008.
Equity release loan not so equal for beneficiaries
Belinda learns her claim to her parents’ estate could be compromised by an equity release loan they had agreed to in 2008.
What does a loan early repayment cost quote indicate?
Early repayment cost quote increased by ten times in less than a week.
Financial crisis
A lender failed to work with a borrower and her budget adviser causing unnecessary stress and expense
