Budget adviser: Lending services taking advantage of desperate people

Author
Newstalk ZB,
Section
Audio,
Publish Date
Tuesday, 9 July 2019, 2:47PM
(Photo / Getty)

A budget advisory service says predatory lenders are taking advantage of desperate people.

Lending company Moola is facing legal action over interest rates of more than 500 percent.

The Commerce Commission is alleging it's breached responsible lending practices.

Christchurch Budget Service manager David Mara told Simon Barnett and Phil Gifford it's predatory lending.

The Country

The Country

12PM - 1PM