Time to sell
Chen’s lender moves towards mortgagee sale when Chen does not repay a loan after the agreed term ends.
Topic: Finance and loans
Generous offer
Prisha complained that her loan was not affordable. The lender made a generous offer to reduce the loan balance and not charge any more fees and interest on the remaining debt.
Mistake with a settlement statement
Ava and Jerome thought they had one contract with their finance company for the hire purchase of a truck and trailer, but they in fact had two contracts – which Ava and Jerome said they only found out after they sold the truck and trailer.
Are entertainment expenses relevant?
Drew defaulted on his personal loan repayments. Had the lender underestimated his weekly expenses?
Is a fixed interest rate always lower than a variable rate?
Stella budgeted for mortgage repayments of her investment property assuming her interest rate would decrease when it moved from a variable to fixed interest rate.
Struggling to make ends meet
Complaint that Rangi’s car loan was not affordable and that he did not understand add-on repayment waivers he had purchased.
Dealer does not satisfy the lender’s responsible lending obligations
Dealer does not satisfy the lender’s responsible lending obligations.
Tui waited too long to complain to FSCL
In 2022, Tui complained about a repossession that happened in 2016. FSCL was not able to investigate most of the complaint because of a six-year time limitation in our rules.
Where are the affordability assessment documents?
Fang took out a loan and then a subsequent top-up from a lender. When we investigated whether the loans were affordable, there were issues with the reliability of the affordability assessment documents.
Lender relying on joint income for individual borrowing
Alice doesn’t understand why, after two years, she has not made any progress repaying her loan
