Irresponsible lending from internet and phone providers for unaffordable products and services is a systemic issue that has been regularly raised with FinCap by financial mentors. FinCap generally supports the recommendations made by the Commerce Commission Draft report to the New Zealand Telecommunications Forum Inc. on...
FinCap is calling for robust regulation to counter unfair debt collection practices in Aotearoa, following the release of a new research report today. Overwhelming bombardment via phone calls, texts, emails and in-person visits as well as unpredictable yet substantial fees have been revealed among a range...
Overwhelming bombardment via phone calls, texts, emails and in-person visits as well as unpredictable yet substantial fees have been revealed among a range of harmful practices from debt collectors. This is one of the findings of the Debt Collection in Aotearoa from the perspective of financial mentors report from Victoria University senior lecturer...
In this extended article Victoria University senior lecturer Victoria Stace explores evidence of harrasment by debt collectors in Aotearoa and the case for adopting Australia’ approach to preventing the issue. A shorter journal article version was also published in the New Zealand Business Law Quarterly in 2020 and titled: Debt Collection in New Zealand: Enlivening the Prohibition Against...
This report prepared by researchers at Te Herenga Waka Victoria University of Wellington provides an April 2019 snapshot of the system in Aotearoa for enforcing laws relating to high-cost lending. It then compares this to approaches in other jurisdictions. We acknowledge the support of the Michael and Suzanne Borrin Foundation which made this work possible. Stace, Victoria and Chan, Emily,...
This report prepared by researchers at Te Herenga Waka Victoria University of Wellington provides a an August 2019 snapshot of the Aotearoa’s key issues around debt collection. It then compares our systems for addressing these issues to approaches in other jurisdictions. We acknowledge the support of the Michael and Suzanne Borrin Foundation which...
We anticipate that disruption to communities from COVID-19 will cause and compound hardship for many. Right now alert level changes are creating many barriers to maintaining or working towards financial wellbeing. We support the proposed addendum to the code on the basis that some additional...
Often people who financial mentors assist are facing difficulty paying for essential items like groceries. Any adverse outcomes for consumers from the conduct of nationwide supermarket chains can disproportionately harm people facing these financial circumstances. We have submitted this letter of support for the Consumer NZ...
Financial mentors often report that many of the people working with them are facing hardship due to persistent disadvantage or are at risk of facing persistent disadvantage due to various life events that have contributed to their debt. We recommend the Productivity Commission set terms of...
We strongly support the Electricity Authority improving information gathering processes, particularly where this will bring better insights as to what reform is needed to tackle energy hardship in Aotearoa. Electricity is an essential service, whānau need it for their health, wellbeing and social participation. No whānau...