The Credit branch of the Commerce Commission has developed a new guide for borrowers as part of their commitment to helping people make informed choices when borrowing money. A quick guide to borrowing is now available on their website.
This guide provides clear and straight-forward information about what to expect from a lender before borrowing and throughout the term of a loan, and what to do if borrowers run into financial difficulty (including, who can assist). It also contains links to other useful information for further reading on the Commission website and others.
The guide was created with input from dispute resolution schemes, as well as consumer advisors and advocates, Government agency partners, lenders and borrowers.
We encourage you to share the guide with your clients and networks, and on your websites and social channels if appropriate.