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Sneaky lenders sign up family as 'co-borrowers' to dodge guarantor laws stuff.co.nz - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from stuff.co.nz Daily Mail and Mail on Sunday newspapers.
123rf The investor told the platform he was trading with borrowed money ‘he could not afford to lose’, following the conversation the platform closed his account. Instead, the platform closed off the investor’s account, and he could not access the money in it. He took his complaint to the FSCL, claiming that the closing of his account was unfair and he wanted to continue trading, so he could recover his losses. He also claimed that the platform had manipulated his trade order sizes to make the losses bigger than anticipated. The platform told FSCL that it reserved the right to close any trading account at its discretion, and that it was concerned about the vulnerabilities of an investor trading with borrowed money. ....
Business Scoop » The Hard Line On Hardship Applications scoop.co.nz - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from scoop.co.nz Daily Mail and Mail on Sunday newspapers.
Photo: 123RF The Financial Services Complaints (FSCL) organisation, which is funded by registered financial service providers, said people were increasingly having their cars repossessed after they bought them from sellers who did not disclose there was money still owed on the vehicle. The FSCL would typically receive about one to two complaints a year about lenders seizing consumer s cars but was now seeing that many in a month. We re not seeing huge numbers overall but of course those are only the people who manage to find us, we don t know how many other people out there are facing the same problem, FSCL chief executive Susan Taylor said. ....