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Handling commercial collection agency is next ‘battle’ in war on payday lending

Handling commercial collection agency is next ‘battle’ in war on payday lending

The next battle in the war against high-cost creditors wound up being the battle for directions forcing loan providers to accept “affordable” payment schedules for borrowers.

“collectors use practices that total up to harassment contained in their collection techniques,” legislation lecturer Victoria Stace from Victoria University of Wellington told a seminar on financial cap cap cap cap ability in Auckland on Friday.

And, she stated: “there is absolutely no legislation requiring them in the future right into a payment this is certainly affordable with the debtor.”

“The battle continues,” she stated.

Speaking at Massey University’s Building economically Capable Communities conference, Stace detailed the research she had done which assisted cost management that is nationwide Fincap persuade the government that is federal introduce interest rate and fee caps on high-interest financial institutions.