We will look at the financial agreement/s in question to determine if reckless lending has occurred. If your agreement is found to be reckless the Court can make an order to set aside all or part of the consumer's obligations and then suspend the credit agreement.
Where the Court makes the above decisions you do not have to make any further payment to the responsible credit provider and your loan may be written off. The credit provider may not demand any payment from you. Which means no interest, fee or other charge under the agreement may be charged to you.
Reckless lending can be identified as the following:
What is over-indebtedness?
A consumer is over-indebted if it’s assessed that they will be unable to meet all their financial obligations in a timely manner. Based on the majority of information available at the time of the assessment including their:
We also offer reckless lending services to the following areas: