Borrowing money and buying on credit
If you have a mortgage, use a credit or store card, have a personal or cash loan or an arranged overdraft, or buy goods or services on credit, you have probably entered a consumer credit contract.
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A guide to borrowing money
When you need to borrow money to buy a house or a personal item like a car or TV, get a credit card or sign up to a store card, it’s best to be prepared.Read more -
What is credit?
If you have a mortgage, personal loan, overdraft or use a credit card then you are using credit.Read more -
Tips for each stage of a loan
Everyone's experience with borrowing money will be different, but there are some things all borrowers will go through when getting a loan. Below we have set out some tips and important information for you to keep in mind.Read more -
When have I entered into a consumer credit contract?
A consumer credit contract is a contract between a consumer and a lender. If you take out a mortgage, sign up for a credit card, arrange an overdraft or take out a personal or cash loan – you have entered a consumer credit contract.Read more -
Know what to look for when getting a loan
Before you take out a loan, you need to understand what you are getting into.Read more -
What you can expect from your lender
Your lender must meet a set of lender responsibilities to you throughout your loan. There are also certain things a lender must tell you before you enter into a loan.Read more -
Register of certified lenders and mobile traders
It is a requirement to be certified if you are a lender who loans money to consumers or a mobile trader that sells goods on credit (together, lenders). The purpose of this is to provide New Zealand consumers with confidence that lenders satisfy a high standard of personal and professional integrity.Read more -
Fees a lender may charge
When you take out a loan or buy goods on credit, a lender may add other costs on top of the amount you borrow.Read more -
Being a guarantor
Sometimes a lender will require a guarantee that a debt will be paid back by someone else if the borrower stops repaying the loan. A guarantor is someone who agrees to do this.Read more -
What to do if you are struggling with debt
If you are facing financial difficulty and think you may struggle to meet your debt repayments you have two options. Either talk to your lender as soon as possible to see if they can make changes to your credit contract or, if you qualify, you can make a hardship application.Read more -
Repossession
When you enter into a credit contract, some items may be listed as security and may be repossessed if you do not make your loan repayments.Read more
This page was published 1 week ago