Archive: News & Media

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.

Charities have slammed the government’s long-awaited lockdown hardship package as “disappointing”, saying it won’t help those most in need.

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.

General Manager of Ngā Tāngata Microfinance discusses the effect of lockdown on financially vulnerable families with Radio Waatea.

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.

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.

“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.”

“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.”

Understanding consumer rights is key to getting value for money. The results of the 2020 New Zealand Consumer Survey are in and they show that more New Zealanders now know their rights when it comes to warranties, advertising and guarantees. Read more

“Predatory, high-cost lenders might finally be paying their dues as a recent decision sets an example by ordering refunds of unreasonable credit”