Our case notes show how we deal with the many different issues that arise in our case investigations. The case notes aim to provide consumers and participants with guidance as to the approach we are likely to take in a particular type of case or highlight some of the many different ways in which a complaint can be resolved.
|
Title |
Year |
Case summary |
|
Funds frozen in Fiji |
2021 |
Tom discovers his travel card is suddenly frozen while holidaying in Fiji. |
|
Just give me one more month to pay? |
2020 |
Lincoln’s home loan was due to expire, and he needed to find a new lender/mortgagee to refinance the balance. For almost a year, Lincoln kept promising his lender the refinance was about to happen. Eventually, Lincoln’s lender commenced the mortgagee sale process because the balance remained unpaid. |
|
Guarantee dispute settlement rejected |
2020 |
The lender agreed they should not have loaned a further $3,000 to the main borrower without telling the guarantor and offers a settlement that is rejected by the guarantor |
|
Where’s my money? |
2021 |
Kaveeta tried to send money to India, but received an email saying the transaction was not successful. Kaveeta could see the debit on her bank statement. What had happened to her money? |
|
Spiralling debt not responsible lending |
2020 |
What happens when a borrower withholds information about their financial situation but the lender also fails to properly assess affordability on the information that is available? |
|
Does your broker have to go above and beyond for you? |
2020 |
Tahi suddenly can’t afford her annual insurance premiums due to the impact of Covid-19 on her business and income. Tahi doesn’t think her insurance broker does enough to help her situation. |
|
Financial abuse leaves borrower in debt |
2020 |
Anna’s partner left her with significant debt that, if the lender had met their responsible lending obligations, could have been avoided |
|
Brokerage commission claw back fee |
2020 |
When Kahurangi repaid her loan early, her mortgage broker sent her an invoice for the commission the bank had recovered from him. Does Kahurangi have to compensate her mortgage broker for the commission clawed back by the bank? |
|
Locked in losses: KiwiSaver and the pandemic-panic |
2021 |
Janet locks in her KiwiSaver losses following the sharp, pandemic-led, market downturn in early 2020. |
|
We cannot investigate because it is not your loan |
2021 |
Tim purchased a car from a private seller. Tim did not know the seller had an unpaid loan balance that the car was security for. The seller stopped paying their loan and the lender repossessed Tim’s car. Tim complained to us because he wanted his car back. We could not investigate because Tim had not received a financial service from the lender. |
