When Hon Aupito William Sio, Minister for Pacific Peoples and Courts visited the Crew at Debtfix it was acknowledged Pasifika communities need more knowledge about money and debt.

On Friday 27 May, Sio met with Debtfix co-founder and director, Christine Liggins, to discuss two specific actions that could improve outcomes for people overwhelmed by debt.

“We would like a system that stops Pacific people from relying on predatory lenders who take advantage of them in their vulnerable situations when they need money to support family,” Liggins says.

You’ve taken a quick loan to buy a new car, to cover the cost of a trip overseas, or even to consolidate your other loans and the finance company asks, “Would you like insurance with that?”

The add-on purchase may not have crossed your mind but when you think about it, the extra security of an insurance that covers debt repayments may sound like a good idea.

The person selling you the loan may imply it is compulsory to buy insurance but what are your rights and what are their obligations?

When New Zealanders get out of lockdown and many of them hit the shops, they may be very surprised if they try to borrow money or buy something with an interest free retailer loan. Borrowers will need to provide much more information, which may be a shock to the system for many people.

While New Zealanders hang in there, staying safe in their lockdown bubbles, many of us are worrying about paying the bills because our income has changed.

As we launch into 2021, business commentators indicate there is enthusiasm in New Zealand for people to start their own enterprises despite uncertainty resulting from Covid-19.

Being part of the Debtfix crew has been a real eye-opener for Sharon Graves and she is constantly in awe of how people cope, make do with so little and stretch their money to survive.

There’s something mothers and fathers need to share with their daughters. Learn about money.

That’s everything about money – from interest rates to credit scores.