Sweet As Money is a subsidiary of ATA Sweet Limited, a 100% Kiwi-owned and operated, online financial service provider. Our mission is to be the first choice in alternative financial services by providing all Kiwis with a safe and affordable place to borrow cash when they need it!
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Unexpected Financial Hardship
At Sweet As Money (SAM), we recognise that sometimes unforeseen events happen in life. Occasionally these events can affect your ability to stay within budget!
With this in mind, SAM has developed a Financial Hardship Assistance program, in accordance with the Credit Contracts and Consumer Finance Act 2003 (CCCFA Act) and our internal company policies, to help steer our customers through these tough times.
Unforeseen circumstances may include illness, injury, loss of employment, the break-down of a long-term relationship, or other reasonable cause.
If you are in a situation of genuine financial hardship. We encourage you to contact one of our agents as soon as possible, so we may assist in finding a solution to help your situation. If you don't tell us when you are in trouble, we cannot help you.
You can apply for our financial hardship assistance program by emailing our Client Services Team and explaining your situation.
You may request one of the following:
An extension to the loan term and a reduction of each installment repayment; or
A postponement of payment, during a specified period, the dates on which payments are due; or
Both of the above.
Where not provided to us with your application, we may request additional information; including but not limited to a current bank statement showing your income and expenditure, termination letter, or other relevant documentation. Once we have a full picture of your situation, we will review the information and provide you with the best payment options to suit your current financial position.
Once an agreement has been reached, we will ask you to demonstrate your willingness to actively participate in managing your debt with us, and monitor payments received, as per our arrangement, to ensure you are keeping our arrangement.
While you are an active participant in our financial hardship assistance program; You are meeting your repayment obligations as we agree, a hold will be placed on all late payment fees and overdue interest.
Our Financial Hardship Assistance program is available to our customers when they find themselves experiencing financial difficulties, which has resulted, or will result in non-payment of their SAM loan.
If you make an application under our Financial Hardship Assistance program, you will not be entitled to make another application concerning the same credit contract unless:
the application is not less than 4 months after the previous application is made; or
in the case of an application that is made less than 4 months after the previous application is made
the creditor agrees to consider the application; or
the reasons for seeking the change under Section 56 of the Credit Contracts and Consumer Finance Act 2003 are materially different from the reasons given in the previous application.
If you have a complaint or concern about the actions taken by us under the program. Such as the removal or exclusion from participating in the hardship program, you can raise the issue through our complaint's process by contacting our Client Services Team. Full details of our complaints process can be found under the Feedback and Complaints tab on our website.
When we are unable to assist you under the Financial Hardship Assistance program, we will communicate this clearly.
There is no charge for assistance under the Financial Hardship Assistance program.
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Sweet As Money provides loans for a minimum period of 14 days and a maximum period of 90 days. A loan of $1,000 taken over 90 days at 0.096% per day, incurs a total of $171.30 in fees and interest, for a total repayment amount of $1,171.30. This equates to 13 weekly repayments of approximately $90.17. Sweet As Money lends at an Annual Interest Rate (AIR) of 35%.
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