Covid-19:
Hardship Claims
We are more than happy to assist free of charge all clients and visitors to our website (subject to going through our process for privacy and compliance purposes) to:
advice on how best to have a conversation with your lender or creditor; or
speak directly to your lender or creditor on your behalf.
A Lenders Obligations
Consumer & Credit Contracts Act (“CCCF”)
It is important to note that the Commerce Commission has recently issued guidance to all financial institutions, reminding them of, and reinforcing their obligations to their clients under the CCCF, in respect of:
their lending obligations generally;
duties to fully explain any changes to the terms of borrowings (say on restructuring a loan or agreeing to a repayment holiday) including what interest and charges might apply as a result, how long the loan or advance is being extended by, and other relevant information;
when dealing with clients in financial distress, they must comply with the Lender Responsibility Principles, most critically exercising the care and skill of a responsible lender, meaning:
acting fairly and consistently with community expectations;
when changes have arisen on grounds of unforeseen hardship, then borrowers who become unable to meet their obligations, can apply to the lender to change the terms of their contract, and the borrower must reasonably be able to expect to meet their obligations following any changes to that contract.
Government Support and Information
Non Government Information and Support
Commerce Commission
Click on image to download a copy
If you believe that your bank is, or has treated you badly, then you are entitled to making a complaint with the Banking Ombudsman. Their website is also a great place to start for assessing whether you have a valid reason to complain, and under what circumstances, together with details of the changes to a contract or an award that the banking ombudsman is able to make, if your complaint is upheld.
For non-bank lenders, then visit the Financial Services Federation and/or review the following guides which may prove helpful to assess whether a lender has complied with their obligations. If not, you will need to identify the lenders dispute resolution service with whom the lender is affiliated and make a claim though that dispute resolution service.
Hardship Contacts
We thought it would be useful to provide direct website links [scroll down] to the hardship pages of each of the primary lenders and creditors - some of them are dedicated to clients needing assistance with the financial effects of Covid-19 and some, more general.
Government
Banks
Telecommunications
Financial Services Federation (FSF) Members
Electricity Suppliers
Take care of your mental health
Call or text 1737 any time, 24 hours a day if you want to speak with a trained counsellor. These are trying times for all of us, it’s okay to ask for help.
DISCLAIMER
This is a guide only, prepared from information publicly available, however that information published by government and other parties is forever changing, and it may be that the information contained herein is inaccurate or incomplete at the time that you visit our website. It is an interpretation only and does not constitute legal advice. Each businesses’ or person’s situation will be different and their rights, obligations and entitlements will need to be reviewed on that basis. Specific legal advice may be required dependent on the nature of the circumstances applicable to them individually.