Are entertainment expenses relevant?
Drew defaulted on his personal loan repayments. Had the lender underestimated his weekly expenses?
Topic: Finance and loans
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
Lenders must provide affordability assessments
When the lender did not give the financial mentor their affordability assessment the financial mentor complained to us
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
