Loan protection

Loan protection

July 6, 2020

6 July, 2020

After a woman under the guardianship of the Office of the Public Guardian and Trustee (OPGT) took out two short-term, high-interest loans without the OPGT’s knowledge or consent, we asked for more information about how it prevents unauthorized loans and other dissipation of clients’ assets.

After a woman under the guardianship of the Office of the Public Guardian and Trustee (OPGT) took out two short-term, high-interest loans without the OPGT’s knowledge or consent, we asked for more information about how it prevents unauthorized loans and other dissipation of clients’ assets. We were told the OPGT updated its process in 2011 to notify the major credit bureaus not to issue credit to OPGT clients without first notifying them. However, because the woman became a client before 2011, such a restriction was not made in her case. As of July 2019, the OPGT confirmed that notification had been done for all pre- and post-2011 clients.