Case Studies

The following case summaries highlight common issues and consumer tips. Cases can be filtered by subject below and names have been changed to protect confidentiality. Access to the full case study database is available for IFSO Scheme Participants in the Participant Area.

Showing all Loans & Credit case studies

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$920 fridge purchase leads to $10,000 debt

Linh neither asked for, nor wanted, a credit card with a $6,000 limit.
Loans & Credit

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Lending based on uncertain overtime and incorrect expenses

A financial mentor was able to help Jake get all the interest and fees on his loan refunded.
Lending financial mentor Loans & Credit affordability

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Unaffordable loan given to gambler

Benson's lender didn't make reasonable inquiries to check his loan was affordable.
Loans & Credit affordability

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Financial mentor helps couple through unaffordable loan

Mr and Mrs J had English as a second language, it was unclear if the refinancing and additional loan...
affordability financial mentor Loans & Credit

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Responsible lending disputed

Beneficiary caring for three grandchildren given loan she couldn't repay

Mrs Clayton* was given a loan despite having three bank balances of $0 and making regular payments t...
Lending Loans & Credit affordability

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No home, 4 loans, responsible lending?

Lender responsibilities aim to protect consumers against substantial hardship.

Ann's house was demolished and she told her lender she couldn't repay her 4 loans. She later received a repossession notice.
Loans & Credit affordability Lending

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$43K loan, ute repossessed

The CCCFA sets out lender responsibilities for consumer protection.

Charlie, who had terminal cancer, couldn't work or pay off a $43,000 loan. Charlie’s ute was reposessed.
Loans & Credit Lending

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35 unauthorised credit card transactions

Failing to safeguard your credit card PIN could mean you are liable for unauthorised transactions.

Sharee complained that 35 unauthorised transactions were made with her credit card in NZ during the month she was overseas.
Loans & Credit

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Financial hardship, no evidence provided

The CCFA has rules for lenders about hardship applications and fees.

After Dan took out a loan, he said money had been stolen from his bank, and he’d lost his job. But he had no proof.
Loans & Credit Lending

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Three loans, no redundancy cover

Lenders must ask for up-to-date evidence about a borrower’s ability to repay a loan

When Bev borrowed $17K for a car, she purchased payment waiver, but later discovered it didn’t cover redundancy.
Loans & Credit affordability Lending

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$4,000 vacuum debt written off

Lenders must ask for information about the borrower’s ability to repay the loan under the CCCFA

Mrs B entered into a loan agreement to buy a $4,000 vacuum cleaner, sold to her by a door-to-door salesperson.
Loans & Credit Lending affordability

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