Credit Contracts and Consumer Finance
$50.00 + GST
Duration: 30-45 minutes
The Credit Contracts and Consumer Finance Act 2003 (CCCFA) is the most important piece of legislation governing consumer lending in New Zealand.
The CCCFA contains strict provisions regarding disclosure of information by creditors to consumers at the beginning and throughout the term of the consumer credit contract. Failure to comply with these can have very serious consequences for those involved.
On completing this course, learners should be able to:
- understand the CCFA, what it is and when it applies;
- know what is meant by responsible lending principles and conduct;
- understand disclosure standards and their requirements;
- be informed about ending and enforcing credit contracts; and
- understand the consequences of a breach.
Courses cover the following topics:
- The law
- Criminal penalties for breach
- What does the CCCFA cover?
- When does the CCCFA apply?
- Responsible lending principles
- Responsible lending conduct
- Advertising to provide credit or finance
- Disclosure statements
- Substantial hardship
- Buy-back transactions
- Guarantees and guarantors
- Oppressive contracts
- More about the CCCFA
- Consumer leases
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