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October 2011

Transferring credit card debts

Transfer misunderstanding led to heated words, eventual settlement

Ali had seen some advertising offering an attractive interest rate for any credit card balance trans…

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October 2011

Guaranteeing someone's debt

Paperwork showed couple understood guarantor obligations

Logan and his wife Kiri, both signed a guarantee for lending to a trust of which Kiri was a trustee.…

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September 2011

Guaranteeing someone's debt

Former director still liable for company's debt

Tony agreed to guarantee a loan taken out by a company, of which he was a director. He later resigne…

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August 2011

Telegraphic transfers

Lost opportunity no grounds for compensation

Alex needed to send $US20,000 as quickly as possible to a business partner in London to make an inve…

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June 2011

Breaking a term deposit

Failure to mention fee misleading

Tama deposited $400,000 with his bank for two years at 5.25 per cent. A year later, he went to the b…

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May 2011

Guaranteeing someone's debt

Friends liable for undisclosed loan debt

Morgan and a group of friends formed a company to buy investment properties. The bank gave the compa…

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March 2011

Kiwisaver

Customer could not opt out of scheme

Jamie went to his bank to open an account. While there, a bank officer discussed the bank’s KiwiSave…

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January 2011

Investing

Advice led to portfolio imbalance

Kiri, who was in her 80s, met with one of her bank’s financial advisers to simplify her affairs. She…

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August 2010

Overdue council rates

Repayment plan contained obligations for bank and customer

Sam fell into arrears with her home loan repayments. The bank asked her to sign a repayment agreemen…

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