Lenders must provide affordability assessments
When the lender did not give the financial mentor their affordability assessment the financial mentor complained to us
Topic: Finance and loans
Should my lender known of my cash withdrawals?
Amani and Akeem said that their car loans were unaffordable because the lender had not accounted for their weekly $300 cash withdrawals that were put towards Amani’s parents’ mortgage.
Lending to a family trust does not attract the CCCFA’s consumer protections
When Aleki’s family trust cannot repay a loan, it puts his family home in jeopardy
Alan loses his family home when his business cannot repay a debt
Alan complains that a lender incorrectly sold his property at mortgagee sale following his business being unable to repay a debt.
An early resolution in difficult circumstances
Natalie’s lender offered to write off part of her loan, stop charging interest, and accept reduced repayments. But was this a fair outcome for the complaint she raised?
Alleged irresponsible lending with no evidence of harm
Dean complained that the lender did not properly assess the affordability of his loan. But what was a fair outcome when there was no evidence of any hardship?
Residual debt unaffordable
When Jason and Maggie could not afford their loan repayments they surrendered their car to be sold, reducing their debt from $30,000 to $24,000.
EQC settlement confusion
Fetu was concerned about how his lender had managed EQC settlement funds.
Is a revolving credit agreement affordable?
A revolving credit agreement that’s spiralling
What does board cover?
Jade’s adult sons’ board payments were included in her income assessment when she applied for a car loan. Should the lender have also included her sons’ food expenses in her affordability assessment?
