Misleading representations that creditor has the right to charge undisclosed credit fees, to charge default interest and fees after the sale of repossessed secured items, which is prohibited under the Credit (Repossession) Act, that it has the right to attach its security interest to after-acquired consumer goods without specific appropriation despite section 44 of the Personal Property Securities Act. Creditor fined $30,750. The creditor reversed or refunded around $500,000 in overcharged interest and fees. During the Commission's investigation Budget Loans also voluntarily reversed or refunded an additional $571,000 to its debtors in relation to credit fees that were not the subject of the current charges.
