The lender cannot enter property outside the hours of 6 am to 9 pm Monday to Saturday, nor can they enter on Sundays or on a public holiday, unless the borrower consents to this in writing. The lender must give the defaulter a copy of the pre-possession notice. If agents are repossessing on behalf of the lender, the agents must give the defaulter a copy of their authority to act on the lender's behalf. If the occupier of the premises is not present during the repossession, the lender must leave a notice in a prominent place stating that the premises have been entered and listing what goods have been repossessed. The lender cannot sell the goods until the post-possession notice has expired.
Borrowers can obtain an independent valuation of repossessed goods.
Must ensure that the sale is commercially reasonable, including taking reasonabe steps to ensure the best price is obtained for the goods. Must give the borrower reasonable notice of any auction or tender, unless the goods are perishable or liable to drop in value quickly. Where goods are sold, must give the borrower a statement of account within 10 days after the sale showing the gross sale proceeds, the costs of the sale, and the balance owing to or from the borrower. For more help If you believe your lender has breached this Act, talk to them. If the lender is an insurance company, complain to the Insurance and Savings Ombudsman .