Pacific Loans Limited
Pacific Loans Limited (Pacific Loans) breached section 13(i) of the Fair Trading Act by representing it had the right to add interest and fees to loan accounts after repossession and sale of consumer goods in accordance with a security agreement. Pacific Loans agreed to return a total of $134,799.23 to 82 affected creditors.
Case Details
Parties
Pacific Loans Limited
Category
Consumer credit
Sub-category
Act/Section
Fair Trading Act 1986 13(i)
Industry
Financial and insurance services
Status
Closed
Outcome
Settlement
Case Number
Date opened
15 December 2016
Date closed
06 December 2018
Contact person