High-cost lender, Australian registered, Quadsaa Pty Limited (trading as Pretty Penny and PPL) has provided court-enforceable undertakings agreeing to refund 21 named borrowers the costs of their loan and write off outstanding balances. The undertakings record the company’s decision not advertise for, invite or enter into consumer loan in New Zealand and its offer to write off loans held by the company as at the date of the undertakings.
PartiesQuadsaa Pty Ltd (trading as Pretty Penny and PPL)
Category
Consumer credit
Sub-category
Act/Section
Credit Contracts and Consumer Finance Act s 9C(1)