LOAN REPAYMENTS
'Quake Borrowers May Secure Discounts Now REPLY TO MR. BARNARD Comment upon the statement of the Hon. W. E. Barnard that he was en* deavouring to arrange for earthquake loan borrgwers to receive the benefit of a discount for lnmp-sum repayments was made by a Hastings business man this morning, when he said that this looked like a piece of eleetioneering propaganda. Actually, he pointed out, he beldeved it was possible to receive tfiis benefit at the prefent time. Tfie borrower concerned said that after the earthquake he seeured a £400 rebabilitation loan, which was later reduced to £340 by payments and certain adjuslments. He later found that he was in a position to .pay of£ tfie debt and, wishing to clear the properiy of the liabildty, he wrote to the Treasury asking if it would aceept a reduction of the amount if it were paid off to a lump uim as t.c interest was then being charged. 'i he Treasurv repliea agreebjg to aceept a eum of ap proximately £30 less than the principal. "If that could be done by me," he said, '"snrely it must be possible for others to do the same."
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Bibliographic details
Hawke's Bay Herald-Tribune, Issue 170, 5 August 1937, Page 4
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197LOAN REPAYMENTS Hawke's Bay Herald-Tribune, Issue 170, 5 August 1937, Page 4
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