Understanding the Credit Contracts and Consumer Finance Act (CCCFA)

Most of our clients need support and guidance with debt solutions and unmanageable debt. Problem debt can be very concerning...

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Last updated 3 April 2024

Most of our clients need support and guidance with debt solutions and unmanageable debt. Problem debt can be very concerning for the client and financial mentor.

Financial mentors in the BFC sector have been advocating for changes to laws that protect clients. Between 2018 and 2020 organisations, services and financial mentors, including FinCap, worked tirelessly to advocate for amendments to the Credit Contracts and Consumer Finance Act (CCCFA) legislation to address the harm that has affected families and communities from unaffordable debt and practices that caused hardship. Many amendments were consequently made to the legislation.

This course explores the CCCFA and action that can be taken by financial mentors to support clients.

Aim of Module

To understand the options available for financial mentors to address consumer lending issues that contribute to client’s debt and hardship.

To keep current with law changes and corresponding resources.

Who is this course for?

Financial mentors who would like to extend their:

  • knowledge of client rights and protection
  • understanding of CCCFA
  • skills and ability to work with debt, advocating for their client’s rights and negotiating with creditors to ensure the law has been followed and clients are not disadvantaged through unfair or illegal practices.

You may also want the resources attached to this course or know where to find them.

What will you learn?

At the completion of this course you will have explored:

  • the components of the CCCFA
  • affordability and suitability assessments
  • the responsible lending code and responsible borrowing guidelines
  • the process of identifying unlawful or unfair practice
  • Dispute Resolution Schemes and processes
  • how to advocate for your client who is affected by unlawful or unfair lending practices.

Throughout this course you will be able to download some resources, current as at May 2022.

This is a complex area of learning and you may like to have breaks to pace yourself and have time to consider the information.

Module Timeframe

It is expected that this course will take four to five hours to complete.

This course relates to two other courses on Community Heart:

  • Understanding and using the Red Flags
  • Supporting consumer issues and disputes schemes.

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FinCap offers support to all budgeting and financial capability services in New Zealand, providing them with all the resources they need to help clients safely & confidentially.