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Financial Mentoring Report Demands Immediate Action On New Zealand’s Spiralling Debts – Greens
['The Daily Blog']
The Daily Blog
The Green Party commit to regulating debt collection and banning attachment orders against beneficiaries, following FinCap’s finding that their clients’ debt has surged to almost a billion dollars.
“Families are increasingly under pressure from the rising cost of living and the growing burden of difficult debt.
Poorly regulated debt collectors are deepening the crisis for too many families,” says Green Party Social Development spokesperson Ricardo Menéndez March.
FinCap’s report found that 86% of their financial mentors have seen debt collectors demanding for repayments that would prevent people from affording essentials.
Notes:Attachment orders allow private debt collectors to force beneficiaries to pay up to 40% of their benefit directly to debt collectors, enforced by the Ministry of Social Development.