Consumer credit fact sheets

This information relates to contracts entered into on or after 6 June 2015. For contracts entered into before this date, see the relevant guidance.

Overview of changes to consumer credit law

This guide provides an overview of the key changes to consumer credit law, most of which took effect from 6 June 2015.

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Borrowing money or buying goods on credit: Know your rights

If you borrow money or buy goods on credit on or after 6 June 2015 there are things you need to know about the Credit Contracts and Consumer Finance Act.

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How the changes to consumer credit law apply to existing contracts

New Zealand’s consumer credit law is changing, with most changes to take effect from 6 June 2015. This fact sheet explains when and how the new rules will affect consumer credit contracts entered into before 6 June 2015.

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Signing up to a loan

This guide is the first of a series of three which explain what you need to know if you are borrowing money.

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During your loan

This guide is the second of a series of three which explain what you need to know if you are borrowing money.

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Problems with your loan

This guide is the last of a series of three which explain what you need to know if you are borrowing money.

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Applying for hardship – information for lenders and borrowers

This fact sheet explains when a borrower may be able to apply for changes to a consumer credit contract because they are facing hardship. It is designed to give both lenders and borrowers an understanding of when a hardship application is appropriate and what types of changes can be made to a contract.

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Oppression

This fact sheet explains what oppression is and how the courts can deal with oppressive contracts or oppressive conduct by lenders.

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Making variations to consumer credit contracts

This fact sheet explains lenders’ obligations when they make changes to any consumer credit contract. It also sets out the rules which apply when a consumer credit contract is transferred from one lender to another.

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Publication of standard form contract terms and cost of borrowing

This fact sheet explains the rules that apply from 6 June 2015 requiring publication of standard form contract terms and costs of borrowing.

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