Huang guarantees his daughter’s business loan
When Huang’s daughter’s business loan isn’t repaid, he faces the sale of his home
Topic: Finance and loans
Why was I given an unaffordable loan?
Maeve applied for a personal loan, but soon began defaulting on repayments. Was the loan unaffordable in the first place?
Update my credit record
Nicholas’ debt was sold by his lender to a debt collection agency. Nicholas would not enter a repayment schedule with the debt collection agency until the default was removed from his credit record.
Food costs underestimated
Mikaere repeatedly defaulted on his weekly car loan repayments. Had the lender underestimated his weekly expenses?
Loan scam
Adam asked a merchant banker to help him obtain a business loan. After the merchant banker had arranged a loan with an overseas lender and Adam’s business had paid a fee to the lender, it became apparent that the loan was a scam.
I should have had asbestos cover
Melissa held insurance for her property maintenance business arranged by an insurance adviser. When she needed to make a claim due to asbestos-related work, should she have been covered?
Mistake in affordability assessment
Leo’s lender accepted that they should not have lent to him because he could not afford the loan repayments. Was the lender’s offer to resolve the complaint fair?
Residual debt issue
Heremoana paid $45,000 for a car that his financial mentor said was realistically worth $33,000 raising a concern that if it was repossessed and sold Heremoana would be left with a considerable residual debt
A reasonable offer to resolve an irresponsible lending complaint
Samantha complained that the repayments for her car loan were unaffordable. In response, the lender made an offer to put things right.
Irresponsible lending and failure to provide adequate insurance information
Manu’s lender over-estimated income and under-estimated expenses resulting in irresponsible lending. The lender also did not meet their obligations when selling Manu insurance.
