When a consumer loan falls under the protection of the National Consumer Credit Protection Act 2009 (NCCP
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Question:
When a consumer loan falls under the protection of the National Consumer Credit Protection Act 2009 (NCCP Act), there are disclosure obligations that the broker must abide by.
Assume the following:
- Rahn and Deepa's loan falls under the NCCP Act.
- You are about to provide the client with credit assistance.
- You are going to charge them a fee for your service.
Task 4: Question 5
In Task 1 you identified risks that concern Rahn and Deepa's property development proposal. From the list of risks you identified, choose two (2) risks and discuss the following, namely:
(a) why you feel it is a risk to the client and/or the lender
(b) if the risk was to eventuate, what could be the potential consequences for the clients and/or the lender
(c) your suggestions for how these risks can be mitigated.
Related Book For
Smith and Roberson Business Law
ISBN: 978-0538473637
15th Edition
Authors: Richard A. Mann, Barry S. Roberts
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