ADELAIDE, Australia – Customers request amendments to BNPL or “Buy No, Pay Later” funding programs for national solar. As per clients, to offer solar power, companies utilize robust strategies. One company that uses the BPNL program states that a new customer code will provide a hassle for Aussies to give 0% interest funding.
Marianna Hunn, a pensioner from Adelaide, shared how she spends much time caring for her husband. She also shared how she spends a lot on electricity bills.
Hunn thought she’d have an answer to her energy woes, and it will be over after a salesman called her in her phone back in 2018 for the solar panel.
Hunn shared how good it was when the salesman advertised it due to the interest-free advantage. Also, the instalment payment for more than five years is another good point. She stated that the salesman called her daily and become persistent until she decided to take it. After that, she applied for a BNPL funding program.
After the installation of the Sun Energy panels, Hunn started to encounter the effect of settling it by instalments because of her household fund. She stated that the 16 panels provide five kilowatts, and each is $9,000 by cost. The cost is lower if she can pay for it in five years.
Hunn was still settling her electricity bills, and when her solar power panel bills came, there’s a combination of substantial amounts. Her expenses began to pile up with other steady laws. She also said that he had other measures for petrol, car insurance, car registration, car services, and the house, which was juggling on her end.
According to Gerard Brody, the CEO of Consumer Action Law Centre, Hunn is not the only customer who experienced it. He stated that he knows several similar stories of funding hardship because of solar funding deals.
When people can’t decline the offer, it’s what they call “unsolicited selling.” Brody added that sellers take advantage of these customers until they wear them down.
Brody explained that the BNPL funding doesn’t have regulation, and the treatment is unlike other consumer credit-ways under their laws. He stated the forms with standard controls are personal loans, credit cards, and mortgages.
Brody also stated that regulated lenders need to offer responsibly. These lenders should evaluate whether a specific loan can meet the needs of the client. Also, he said that repayments should not cause any burden on the customer’s side. BPNL lenders don’t need to make any evaluation. Also, he said that they don’t tolerate that kind of selling method.
The funder of Hunn’s panels is Flexigroup. This company is one of the biggest BNPL providers in the solar industry. The team called Hunn after the purchase, yet there was no answer at all.
Rebecca James, the CEO of Sun Energy, stated that Hunn shouldn’t have felt any pressure when she applied for the solar. The CEO explained that they don’t endure that kind of selling method.
The company explained that it didn’t have ample time to make a review on their end, yet they denied the accusations of Hunn.