Microfinance loans and solutions to problem debt – Ministry of Social Development
Microfinance loans and solutions to problem debt – Ministry of Social Development

Microfinance loans and solutions to problem debt – Ministry of Social Development

Helping people to access safer credit and reduce their debt are identify parts of Building Financial Capability. Two inter-related services are now available to help achieve these aims : Microfinance lend and Debt Solution services. There are no fees or charges for Microfinance loans, and banks provide the lend capital. Individuals and families can lone apply for loans if other politics agencies are not providing exchangeable services. No cash loans are available. Ngā Tāngata is a register charitable entrust and ship’s company that makes interest-free loans an ethical alternate to high-cost lenders. The Community Finance partnership of Good Shepherd New Zealand, BNZ trust and the Ministry of Social Development offer two types of estimable Loans :

The Ministry supports two nonprofit organization providers of low-cost and honest loans with operational fund :

Debt Solution services

Anyone with problem debt can now access avail through BFC services. The range of Debt Solution services include specialist debt support and loans for debt consolidation .
The aim is to benefit creditors and debtors, and the wide economy by maximising the stream of potential payments to creditors while sheltering indebted individuals and whānau from the fiscal, health and social impacts of consuming debt .
Two types of overhaul are available, with four specialist providers in entire :

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Debt solutions specialised services

These services advise clients on debt solutions that can improve their fiscal wellbeing. Provider tools may include :

  • support and debt counselling
  • developing negotiated debt options including insolvency
  • management of some/all of a person’s finances
  • debt restructuring.

Contact the Debt solutions specialised services:

  • CAP Debt Help: Call 0508 227 111 or visit the CAP website for more information.
  • Debtfix: Call 0800 3328101 (0800 DEBT 101), email helpline@debtfix.co.nz, or visit the Debtfix website for more information.

Debt solution loan services

These services advise clients on debt solutions that can improve their fiscal wellbeing. Provider tools may include :

  • debt advocacy and debt counselling
  • debt consolidation: loans that enable consolidation of harmful debt(s) into affordable repayments
  • other no or low interest loans for debt repayment.

effective Shepherd New Zealand volunteer DEBTsolve StepUP Loans of up to $ 10,000 .
Ngā Tāngata Microfinance work with fiscal mentors and other services to develop individualized debt consolidation and repayment plans for clients.

Contact the Debt solution loan services:

  • Good Shepherd New Zealand: Call 0800 466 370 or visit the Good Shepherd website for more information.
  • Ngā Tāngata Microfinance: visit the Ngā Tāngata website for more information.

A national approach to address problem debt

Debt Solution services are interim services, funded till 30 June 2022. They are set up as an immediate reply to the economic impacts of COVID-19 .
While this is under direction, investigation of ongoing debt solutions for all New Zealanders, informed by the course of COVID-19 and the operation of the interim services, will be undertaken .

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Service Guidelines

These Service Guidelines provide information and guidance on every expression of delivering the interim Debt Solution services .

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