COVID-19 response

If you are looking for the latest legal information relating current Coronavirus laws in New Zealand, check out our Coronavirus and the Law section.

Communtity Law Manual | Credit & debt | Credit contracts: Hire purchase, loans and other credit

Credit contracts: Hire purchase, loans and other credit

Your rights and obligations when you borrow money

The legislation that covers credit contracts

Credit Contracts and Consumer Finance Act 2003, ss 6, 7

The Credit Contracts and Consumer Finance Act 2003 (the CCCF Act) protects consumers who have entered into a credit contract. Credit contracts include:

  • hire purchases (called “credit sales” in the Act)
  • secured loan contracts (this is where you provide some of your property, such as your car, as security to the lender for the loan), and
  • unsecured loan contracts, and
  • mobile trader credit sales (for example, a truck shop).
Next Section | Key terms and concepts
back to top