Review | 17 October 2016

  • Car loan

  • Financial hardship

  • Payment arrangement- arrears capitalised and loan term extended 

Case summary

The consumer requested financial hardship assistance.  We found that the FSP was not required to give the consumer a hardship arrangement. This is because it was unclear when the consumer’s financial position and business situation had improve enough for him to meet his payment obligations.  

Follow this link for a full copy in PDF  Review | 17 October 2016