Wed, 21 Jul 2010
Name:
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Opinion:
By steven
As long as the bill covers the IRD too.
By Knight in Shining Armore
The bill should extend loan sharking to the trade unions who also run loan schemes and don't comply with the credit legislation particularly as it relates to disclosure - The Tramways Union is a prime example of this.With this sort of credit from loan sharks and trade unions the lender should have to sit down as part of the process and prepare a budget.
By The_Frugal_Socialist
Debt and Greed = whip and chains. Loan SHARKS. Ridiculous that we support SHARKS. The govt should steer people who are not financially intelligent to the banks or govt loans. We are not all of equal financial intelligence so these sharks are able to legally make a huge profit on the vulnerable. Education is the answer but your allowed to leave school uneducated! If you do, then your just a baby seal to these great white sharks. Protection is needed, ban all beneficiaries from loan sharks for a start.Revolving...
By Hone fan
Choice Bro, You fellas make too much money anyway. The bro's are smarter cause after the loan the car is stolen and we walk away and bro's with spare key sell the parts.
By Jeffrey Huffadine
Yes I am in support of the loanshark bill.I think that the loansharks are a ripoff because once they loan money to those who need it they expect the people to whom they loan the money to to pay it all back and you don't receive anything back from them.My advice is for investors to only invest in leaving their investments in the trading banks that is the only safe method of keeping their earnings there.
By Bryan Forrest
Yes. I'm definitely in support and that's an incredible thought that I would support a Labour MP's bill. But its only right - the obvious extension to existing Consumer Protection Law Whilst we're on this democracy subject isn't amazing how our Govt sticks to its guns over this but bends to the whim of a few Jaffas over the mining issue? Similarly, when "millions" throughout the country voted in an actual referendum against a law making it illegal to smack your child, the Government continues to insist that "it knows best".
By John S
We just want to keep making laws for the lowest common denominator. It is not all the Banks or Finance comapnies fault.You want, but don't have the cash. The Bank or Finance company has the cash and will lend you it for x amount per month. YOU choose to accept or decline their offer. There is already enough legislation under the CCCFA for consumer borrowers which includes ways to deal with hardship. While I have considerable sympathy for people hood winked into borrowering you just can't remove them from their own responsibility. The loan shark didn't hold a gun to their head and say sign here. Or even if they did, it would be an out for the borrower signing under duressWhat we have to do is lift the financial intelligence of the average Kiwi. Man and by the numbers I see signing up for 48 mths interest free at Harvey Normans or Bond & Bond or Noel Lemmings etc this could be a big task. Not that, what they (The shops) are offering in itself is a bad thing if managed right. Damm handy in fact for the ODD large purchase.Part of the problem is the "I have to have it now". In my parents day who lived through the great depression, the term "able to afford it" meant that you could go and pay cash for the item. Now the same term seems to mean "I think I can afford the repayment"The last Labour Govt wanted to keep passing laws for this, that and the next thing. What size car you could drive, how much water you can use in the shower and so on. By doing this you are eating away at peoples freedom of choice.