Topic: Personal Loans

Bruce took out a car loan to buy a new car, but he couldn’t afford his weekly repayments. He gave the car back to the lender, who sold it, but there was still a large loan balance for Bruce to pay back. Had the lender acted appropriately?

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.

Drew defaulted on his personal loan repayments. Had the lender underestimated his weekly expenses?

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.

When the lender did not give the financial mentor their affordability assessment the financial mentor complained to us

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?

A revolving credit agreement that’s spiralling

Maeve applied for a personal loan, but soon began defaulting on repayments. Was the loan unaffordable in the first place?

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.