REHABILITATION LOANS
MANY PAYMENTS IN ARREARS Concern at tlic apparentlv mcreasing Lrernl aniong liumbers of ex-scrviceiueii to fall into arrears witli ropayments of certain types of xeliabilitation loans, was expressed at the last meeting of the Rehabiiitatioxx. Board. Free-of-interest loans to purehase tools of trade aud furniture and , lovv ixxterest-rate loans to estabjish business were the types quoted as being those on which interest was more gexierally in arrears. The averages for Nevv Zealaud of arrears in repayiuent of these kinds of advaxiees were stated to be: Tools of trade, 18.8 per cexxt. of borrowers; fur-nitxxj-e, 8.2 yier cent.; business loans. 8.6 per cent. lu one large rehabiiitatioxx cexitre, the arrears of repayxnent of tools-of-tro.de loans was a high as 42 per cent. of borrowers. ' It was stated that a borrower was regarded as in arrears when he had xnissed more than four weeks' paymexxts. Loaus for tools of trade are advanced up to £50, for furniture up to £iOU, both free of interest, and for the establishmeut of businesses up to £500 at 4 per cent., with a special reductioxi to 2 per centr in the lirst repayment year. Members of the board comxnented that the worst feature was that it was on tools-of-trade loans that repayxnents were so much iix arrears. Repayinexxts on these, they said, were well witkixi the scope of tradesmeu 's wages. The board caTried a resolution expressing coiicenx at the position, especially ixx viexv of present ecouonxic conditions-. J^t was decided to draw the attention of district rehabilitation committees to the present trend for repaymexits of loans to t'aM into arrears and Ja einpliasi.se that the acceptance oi their legitixxiate, respoxxsibilities must be recognised by ex-servicemen if rehabilitation wer6 to .be carried tot a auccessful coaciusioii.
Monday, 25 2.36 . 2.57 Tuesday, 26 3.25 3.55 Wednesday, 27 . . 4.35 5.27 Thursday, 28 ... 6.10 6.58 Friday, 29 7.24 8.0 Saturday. 30 .... 8.17 ■ 8.47 Sunday, 31 9.2 9.28
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Bibliographic details
Chronicle (Levin), 25 March 1946, Page 2
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320REHABILITATION LOANS Chronicle (Levin), 25 March 1946, Page 2
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