Did the lender get the best price reasonably obtainable?
Jasmine voluntarily surrendered her car, as she could not afford the repayments. The car sold for less than Jasmine expected, and she was left with a shortfall to pay.
Topic: Finance and loans
Was my loan affordable?
Hikaru said his lender didn’t properly assess his affordability, and that they listed his mother as a co-borrower rather than a guarantor.
Hardship assistance for a non-consumer loan
Anika and Jack could no longer afford to make their repayments, so they applied for hardship assistance. Was the lender entitled to decline their application?
Help – I just got a car loan but now I can’t pay
Immediately after getting a car loan, Bati’s relationship broke down and he didn’t think he would be able to make the repayments. Bati wanted to cancel the loan but accidentally asked the dealership, not the lender. The loan continued and Bati made his repayments, but he was in serious hardship.
Why is my loan not reducing?
Sokha was concerned that her loan wasn’t reducing as quickly as she thought it would.
Let’s make a plan
Chun was struggling to make payments on her car loan. Chun felt that her lender could do more to help.
Consumer contributes to a difficult financial situation
After a lender agreed to a debt consolidation the consumer did not repay a debt as agreed and continued to borrow more money.
Take it to the limit
The lender knew Jenny could not afford repayments on existing debt but allowed her to make another purchase within her credit limit. Was this the action of a responsible lender?
Won’t you reconsider?
The lender declined Breanna’s application for unforeseen financial hardship because they did not consider her change in circumstances to be unforeseeable.
But it’s been years!
Maia believed that she had cleared her debt with the lender when she surrendered her car. Three years later, the lender told Maia that she still owed over $10,000.
