Lender fails to recognise request for hardship help
Hine struggled to repay a loan after she lost her job, and by the time her lender offered hardship relief Hine could not afford their proposal.
Topic: Finance and loans
Secured debts can’t be included in a bankruptcy
Soraya said her lender incorrectly told her that a secured debt could not be included in her bankruptcy.
A guesstimate is not good enough
When a person applying for a loan did not include their rent costs in a loan application the lender substituted a nominal $100 a week.
An unaffordable loan for a small business
A lender approves a small business loan without documentation showing that the business will generate enough additional income to pay the loan.
When a business loan is not a business loan
Linh did not understand that she was taking out a business loan. Should it have been a consumer loan?
Who is responsible for the complaint?
Isabella wanted to complain about her lender, but the lender had sold her debt to a debt collection agency.
“Work with me and I will get the loan across the line”…
A car dealer encourages a borrower to lie about his rent expenses to qualify for a loan.
A marginal lending decision
Insufficient buffer in lending decision contributes to difficulties in paying the loan.
When circumstances change
When Wiremu and Marama’s income unexpectedly reduced they could not afford to repay the loan, resulting in the forced sale of their home.
Doing the right thing
Kaia could not afford to repay her loan, so her lender took a compassionate approach.
