can someone please help me with this question

Jake wants to buy a nailer gun from ToolWorks. The nailer gun is too expensive for Jake to afford, but the salesperson offers Jake the opportunity to use LaterPay. The saleswoman assures that LaterPay will do 'soft credit check', which takes less than 15 minutes, and then he can take the nailer gun home. After a positive soft credit check, Jake agrees to pay 6 weekly payments, signs documents acknowledging his obligations, and goes home with the nailer gun.

Jake is short on cash and misses one of his payments. Unfortunately, LaterPay charged Jake exorbitant default fees for missing the payment, even though he paid the late payment and got the payments up to date. Jake had difficulty contacting LaterPay to make a complaint; they only accepted emails, there was no phone number, and ToolWorks said it had nothing to do with LaterPay. Jake goes to the Commerce Commission to file a complaint but is told they cannot help him.

Jake is angry.

Does the Credit Contracts and Consumer Finance Act apply to LaterPay? Why or Why not?

Make sure to provide some reference to a credit contract.