Responsible Lending

responsible-lending-personal-cash-loansIn this document Cash Loan (the provider of loans through this website) is referred to as Zethus Holdings Limited, us or we.

Before obtaining a payday loan, you should consider whether it would be a sensible choice that meets your particular financial needs and situation.

Why do people use payday loans?

When faced with an emergency shortage of funds due to an unexpected bill or repair, a short-term loan could be a good solution. For example, it can be less expensive to use it to pay a late telephone or other bill to avoid a re-connection charge, or to cover a cheque you have written to avoid a dishonour fee charge from your bank.

Proper use of such loans

Payday loans are meant for occasional and unusual use only. They are not meant to be used continuously, or as a long-term solution. If you find yourself using it on a frequent basis, you should consider using other sources of financing, or else consulting a non-profit credit counsellor like Moneytalks – check our External Resources page for more suggestions.

Our responsible lending criteria

Cash Loan is a offering short-term cash advances to those in tight financial situations. We always follow strict responsible lending criteria for our customers’ benefit. Loans can often turn into a financial burden and we do our best to make sure you borrow an amount that will be easy to repay.

Cash Loan’s responsible lending criteria is in place to help ensure you have the ability to repay the loan as it is due.

  • We will not lend unless you are currently employed. If you do not have a regular income we are unable to assist.
  • Your pay must be deposited into a bank account that has been opened for a minimum of three months.
  • The amount we will lend is based on your income. We do not want you to borrow more than you can afford.
  • We encourage all our clients to always plan their budgets prior to signing and returning the loan contract and disclosure statement.
    For this purpose, please use one of the following websites:

  • We are required to see your current photo ID, 90-180 days of bank statements and proof of address prior to your loan being approved.
  • Early repayments are encouraged and will save you money as interest on bad credit loans is calculated daily.
  • Cash Loan be used only in emergencies: while we welcome your return, it is only a short-term cash solution.
  • There may be alternatives you should consider other than cash loans e.g. family, friends, employer, credit card advance etc. Only you can decide if the cost of a loan is worth it to solve your current financial problem.

Understand the terms

You should read your loan agreement in full and be sure you understand all the costs and terms. If you have any questions, ask us promptly. Ensure you receive a copy of each document you have signed. We are a responsible lender and believe in transparency – we will disclose all costs and fees to you, and provide you with a copy of your documents.

After reading your contract, you should know when your repayments are due and make sure you have enough funds in your account on the due date so you do not incur any dishonour and or collection fees and additional interest charges. If your loan goes into default, you should contact us ASAP to work out a repayment arrangement. We are committed to collecting your past due loans in a professional, fair and lawful manner.

Other options

You should evaluate your financial situation to determine if it is a good choice for you. If you feel you are using such services too often, consider other borrowing options such as asking a friend, employer, or family member for a small loan. You might also consider obtaining an overdraft, or a line of credit, or consolidating your debt at your bank.

Help is available

If you find your monthly bills are often exceeding your monthly income, if credit and collection agencies are calling constantly, or if debt stress is making it difficult to cope with everyday life, these are all signs that debt has become a problem. It is always better to recognize a problem and try to deal with it than to let it build into a larger problem. A credit-counselling agency may help you in this situation.

Some sites that maybe helpful include:

New Zealand Government registered financial service provider

Cash Loan is a trading division of Zethus Holdings Limited. Zethus Holdings Limited is 100% New Zealand owned and operated, and supports the New Zealand Government’s requirement that financial service providers register with the Ministry of Economic Development in order to conduct business. Zethus Holdings Limited is registered. It’s registration number is FSP298566.

The governing legislation is the Financial Service Providers (Registration and Dispute Resolution) Act 2008. Only registered entities like Zethus Holdings Limited can operate in New Zealand.

You will have access to the electronic register of financial service providers which will help you to be comfortable that Zethus Holdings Limited has passed the Government requirements for registration.

You will be confident that the directors, senior managers and controlling owners of Zethus Holdings Limited have all been screened by Police checks and passed.

The Act ensures registered companies comply with all international obligations to prevent money laundering and the financing of terrorism.