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.
Officials keep close eye on ‘buy now pay later’ usage during lockdown
Budgeting services are warning people not to get carried away with buy now pay later products if they’re struggling to get by during the lockdown.
Families struggle more this year than during lockdown last year
General Manager of Ngā Tāngata Microfinance discusses the effect of lockdown on financially vulnerable families with Radio Waatea.
The Buy Now Pay Later Dilemma
“Ngā Tāngata Microfinance general manager Natalie Vincent is annoyed the Australian actor [Rebel Wilson] has chosen to front advertising for buy now, pay later loans, which she’s seeing turn up again and again in the debit column of families who can no longer make ends meet.”
Microfinance – A life changing loan
“Alleviating the stress of high interest debt can have a lifechanging impact on people’s lives – a story some of Aotearoa’s microfinance lenders know only too well.”