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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Lending based on uncertain overtime and incorrect expenses image
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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Responsible lending disputed image
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 credit
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No home, 4 loans, responsible lending? image
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 credit Lending
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$43K loan, ute repossessed image
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 credit Lending
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35 unauthorised credit card transactions image
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 image
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 credit
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Three loans, no redundancy cover image
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 credit
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$4,000 vacuum debt written off image
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 credit
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