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Snowballing complaints

Gina experienced minor irritation with her payments, but things reached a head when the lender was unable to locate a missing payment and then charged a $32,000 early repayment cost.

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.

Financial hardship

Jenny and Paul were experiencing financial hardship, but because the lending was secured by an investment property the Credit Contracts and Consumer Finance Act did not apply.

Time to sell

Chen’s lender moves towards mortgagee sale when Chen does not repay a loan after the agreed term ends.