We understand that life can throw unexpected situations occasionally. Therefore, once you find yourself unable to reasonably keep up your loan repayments, you must contact our branch. Once SNZF staff is aware we will guide you through your unfortunate situation. Samoa New Zealand Finance can assist you throughout these unexpected circumstances and help to reduce your financial stress during this period.
Under the Credit Contracts and Consumer Finance Act 2003 (CCCF Act), a borrower has the right to ask their lender for a change to their personal loan or other consumer credit contract, if they meet the following criteria:
When a borrower makes an application to alter the loan contract under these circumstances, this will fall under the ‘Hardship Application’. All borrowers need to contact Samoa New Zealand Finance immediately if you are unable to make your loan repayments as borrowers only have a limited time to make a hardship application if they are in default.
If a borrower struggles to (reasonably) make their loan payments, we encourage you to talk and get in contact with our employees in Samoa New Zealand Finance regardless of the situation. We also need proof of these certain circumstances to support your application.
When can a borrower make a hardship application?
A borrower can make a hardship application at any time, unless the borrower:
Borrowers may only make one hardship application on the same grounds within any four-month period, unless the lender agrees to consider another application. If the borrower catches up on the debt repayments and defaults, they are again entitled to make a hardship application.
How can borrowers make an application for hardship?
Firstly, make your application in writing (via email, post or letter) and must be given to Samoa New Zealand Finance. If it is urgent please use the telephone or email. You must state the purpose or reasons for the unforeseen application. It will be helpful to include proof of information to support your application. Then request to one of the following:
Once your application has been completed, we will contact you either through telephone or writing which will outline the process from there. If we do not require any further information from you, a final decision will be made within 20 working days from when we have received your application.
If you have any queries regarding unforeseen hardship application, please do not hesitate to contact us:
Telephone: 09 262 2292
Email: [email protected]
Samoa New Zealand Finance Limited
PO Box 97483
Manukau Auckland 2241
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