Free phone to discuss credit

Press, 11 October 1988, Page 3

Free phone to discuss credit

By SARONA lOSEFA A credit free-phone, available only today, will allow some consumers to speak direct to the Minister of Consumer Affairs, Mrs Shields, about credit problems or solutions to credit problems. Toll calls from throughout New Zealand will be accepted free of charge on (04) 734-490. The Minister will open the line at 9.30 a.m. by taking the first call. Mrs Shields will continue to take calls at various times today. The remainder of calls will be received by Consumer Affairs staff until 9.30 p.m. when the line will be closed.

The free-phone was arranged as part of a national credit awareness programme which will focus on problems faced by people when using credit, and ways of solving these problems.

The awareness week from October 8 to 14

coincides with a Consumers’ Affairs discussion paper on consumers and credit, released yesterday. An educational video produced by the Wellington South Community Law Centre in association with Consumers’ Affairs, shows problems faced by borrowers from loan companies. Called “A Loan with a Shark,” it addresses:

® Over - commitment and debt.

® Unscrupulous loan operators.

@ Provision of excessive security for a loan. 0 Non-understanding of loan documents and the relevant law.

“A Loan Shark” will be shown locally by community groups such as the Christchurch Budget Advisory Service and the Community Law Centre.

The consumers’ and credit discussion paper will be discussed at a forum at 7.30 p.m. today at the Horticultural Hall.