The Government has responded swiftly and robustly with various economic packages, health advice, new measures and health-based restrictions that have created a new normal in Aotearoa. But action in the area of debt and financial hardship has been quite muted and lacks strategy the Salvation Army says. In a report published last Thursday, they say: Read more
The Catholic Church has made submissions on the Credit Contracts Legislation Amendment Bill The Bill amends the Credit Contracts and Consumer Finance Act by strengthening requirements to lend responsibly. It is designed to clamp down on predatory lending practices and stop borrowers being caught in a spiral of unaffordable debt. Writing in The SpinOff, business Read more
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 Read more