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Wendy took out a loan of $4,000 in 2012. Four years later her loan balance was $13,500. Despite now having a stable income and meeting her fortnightly repayments, some time ago Wendy’s loan had gone into default and she was unable to pay enough to catch up on the arrears. With the amount of default interest and fees accruing on her account, her loan had been at a standstill for over a year. What happened for Wendy to have found herself in this position?

Duane was going overseas for a holiday and had organised a travel card to manage his money. When Duane loaded his money onto his card he discovered that the exchange rates used to convert his NZD were different (and less favourable) than the exchange rates advertised on the travel card’s website. The travel card company said that the exchange rates advertised on the website were not the applicable exchange rates for the method Duane used to load money onto the travel card.