Beware high-interest Christmas loans: Fears families will face a festive ‘debt-spiral’
Buy now, pain later: The potential risks of the latest credit craze
After a tough 2021, buy now, pay later is a tempting option. But for low-income New Zealanders, the new form of credit poses big risks.
Pandemic fans flames of poverty plague
Aotearoa New Zealand is synonymous with terms such as ‘The Paradise of the Pacific’ or ‘The Land of Plenty,’ but more recently, we have witnessed its steady metamorphosis into a land of disparity.
Financial support agencies join forces to encourage safer spending this Christmas
The impact on people facing hardship due to the ongoing lockdown has financial support agencies banding together to drive home the message – spend safely in the lead up to Christmas.
The secret ‘buy now, pay later’ consumer lender code of conduct you are not allowed to see
Consumer Affairs Minister David Clark is refusing to release a draft code of conduct created by the buy now, pay later finance industry.
His debt in her name: Economic harm in which lenders are complicit
In New Zealand, Canada, Australia and the United Kingdom, Friday is Economic Harm Awareness Day.
Buy now pay later services stinging customers with late fees
A non-profit community lender is concerned at the impact of buy now pay later (BNPL) services. Ngā Tāngata Microfinance (NTM) say it’s getting so hard for the low-income people that they’re getting loans to pay their BNPL accounts.
Covid-19: Hardship support a ‘pittance’ that won’t help families in poverty, charities say
Charities have slammed the government’s long-awaited lockdown hardship package as “disappointing”, saying it won’t help those most in need.
Research shows that families, females, Māori and Pacific people hardest hit by lockdowns
We know that many New Zealanders have been ‘doing it tough’ during the COVID-19 pandemic. Extended lockdowns, rising food costs and increasing unemployment have hit our most financially vulnerable citizens hardest of all – particularly families, females, Māori and Pacific people.
Borrowers to get refunds after Harmoney and Commerce Commission strike deal
Nearly 40,000 borrowers who used the Harmoney online lending platform over the past seven years are in for refunds.
The Commerce Commission and the company have struck a $7 million deal over unreasonable fees charged.