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How a loan could cost you a bundle

July 6th, 2008 by admin

Cash-strapped Kiwis considering a loan to get themselves out of a financial hole could end up paying almost twice as much as they borrowed to clear the debt.

The Herald on Sunday obtained one quote which would require more than $25,000 to repay a $15,000 loan over four years.

Our investigation also revealed borrowers were likely to pay hundreds of dollars in administration fees - and could be locked into repayment terms of up to five years. Read more
Courtesy: www.nzherald.co.nz

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