Commerce Commission Settlement
Notice to borrowers who entered into a loan with us during the period starting 6 June, 2015 and ending 29 March, 2016.
During this period Linsa Finance failed to properly disclose all the information that it was required to in likely breach of section 17 of the Credit Contracts and Consumer Finance Act 2003 (the Act).
Linsa Finance has now entered into a settlement agreement with the Commerce Commission. This means you may be entitled to a credit to your loan account, or a refund if you no longer have any money owing under your loan with us.
Current borrowers will be contacted as their credit is processed. We expect this process to be completed within 6 months. Former Borrowers will be contacted regarding their refund during the next nine months. If you have not already been in contact with us, you should provide us with your contact details so we can arrange with you the credit or refund when it is ready to process.
The best way to contact us is to email us at email@example.com. You can also post a letter to P O Box 14020 Tauranga.
Please note that if we do not hear from affected borrowers, the refund amount will be held on trust for a period of three years, ie until 22 May, 2023. Any unclaimed amounts will then be paid to a nominated charity.