Archive:

For many New Zealanders the consumer credit lending experience is generally positive, with many credit lenders complying with regulations. Credit law reforms including the recent changes to regulations signal a commitment from the government to ensure lenders are diligent in their duty of care towards consumers. However, our concern, despite the current credit laws, many vulnerable families and communities continue to be exploited through irresponsible and harmful lending practices, most often through short-term high-cost loans. Download Beyond the Shadow of Debt Report

The Fairer Future Collaboration has released new work showing some of our worst-off families could face shortfalls of $300 a week or more after the government’s promised increases in income support take effect on 1 April. And this shortfall is more extreme for low-income households that have debt. Download article

Dr Claire Dale, Chairperson of Ngā Tāngata Microfinance discusses the coming storm for New Zealand’s future retirees: still renting and not enough savings to avoid poverty. Read full article - The Coming Storm

As families decide what food they’ll cut from the grocery shop or what bill they’ll delay this week, Ngā Tāngata Microfinance chief executive Natalie Vincent is seeing marketing ramp up for buy now, pay later schemes, high-cost lending and debt consolidation. Read full article

A GetControl loan enabled Marnie to pay off crippling loans and move into a new home.

A GetControl loan helped Beverley pay off a car loan that had a whopping 30% interest.