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.

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Pete made a complaint saying that the credit limit increases he was given were unaffordable. 
Loans & Credit
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Benson's lender didn't make reasonable inquiries to check his loan was affordable.
Loans & Credit affordability
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Linh neither asked for, nor wanted, a credit card with a $6,000 limit.
Loans & Credit
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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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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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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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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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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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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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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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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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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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