Unfair Lending Practices

Queensbeck has dealt with a significant number of cases from consumers criticising their lender for not giving them an appropriate level of help. In addition to complaining that the lending was unaffordable from the outset and they should not have been allowed by the lender in the first place.

There are industry codes and regulations that lenders should adhere to; respond helpfully and fairly with consumers. If any of the following issues apply to you, then get in touch:

  • Affordability issues
  • Reposession
  • Unfair charges or fees
  • Interest only loan
  • Unfair redemption charges
  • Trouble paying your loan after you have retired or are going to retire
  • Agressive collection practices

Unfair Lending Practices allows the court to assess a broad range of acts or omissions by creditors. In addition to claims based on the decision in Plevin, a number of auxiliary heads of claim can be pursued.

Queensbeck’s team of industry experts, including underwriters and secured loan professionals will perform a full forensic assessment of your loan file and report on lender issues;

  • The loan was not affordable at the time of approval
  • Unfair fees and charges have been applied
  • Your lender has not acted fairly during litigation or possession
  • An interest only loan was provided which meant that repaying the capital balance was exceptionally difficult
  • Unfair redemption charges were applied to the loan
  • Repaying the loan after entering retirement was not considered

Should Queensbeck find that any of the issues stated above apply to the consumer, the team can assist in:

  • Compensation to rectify the unfairness
  • Having the loan set aside
  • Modifying your loan; reducing the outstanding balance, reducing monthly payments or having the term reduced

Complete the form below and a member of the Queensbeck team will be in touch to see if you have a claim.

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