Lenders target families with Christmas money

Friday, December 20th, 2013

Money lenders are offering lavish gifts and prizes to entice people into taking out high-interest loans for Christmas.

Companies with interest rates of up to 43 per cent are being accused of “targeting the vulnerable” in Auckland’s lower socio-economic groups.

Finance Now mailouts offer customers the chance to “enjoy a special surprise this Christmas”. If they take out a $2,000 loan they go into a draw to win a Suzuki Swift.

Instant Finance offers customers a free mobile phone for spending more than $500 on its hire purchase home furnishings and appliances. Keep reading

Additional reading

News category: News Shorts.

Tags: loan sharks, money lenders, Poor

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