Under the NCCP Act, we are obliged to ensure that any loan, lease, or principal increase to a loan we arrange for you is not unsuitable for you.
To decide this, we will need to ask you some questions in order to assess whether the loan or lease is not unsuitable. The law requires us to:
make reasonable inquiries about your requirements and objectives;
make reasonable inquiries about your financial situation;
take reasonable steps to verify that financial situation.
Credit will be unsuitable if at the time of the assessment, it is likely that at the time the loan is made:
you could not pay or only pay with substantial hardship;
the credit will not meet your requirements and objectives.
For example, if you can only repay by selling your principal place of residence, it is presumed that the loan will cause substantial hardship unless the contrary is proved. For this reason we must ask you to provide a significant amount of information. It is therefore very important that the information you provide us is accurate. If you ask within 7 years of the date of the loan contract, lease contract, or principal increase, we must provide you with a copy our credit assessment of your application. We are only required to give you a copy of the credit assessment if a loan or lease contract is entered or the credit limit is increased.
Our internal dispute resolution scheme
We hope you are delighted with our services, but if you have any complaints you should notify us by contacting us in one of the following ways; call our Complaints Officer on 1300 FAIRGO, email us at: email@example.com, write to us at PO Box 884, Mandurah WA 6210 or speak to any representative of our business who will refer you to the Complaints Officer. You should explain the details of your complaint as clearly as you can. You may do this verbally or in writing. When we receive a complaint, we will attempt to resolve it promptly. We hope that in this way we will stop any unnecessary and inappropriate escalation of minor complaints.
Our external dispute resolution scheme
It can be expensive to borrow small amounts of money and borrowing may not solve your money problems.
Check your options before you borrow:
For more information about other options for managing bills and debts, ring 1800 007 007 from anywhere in Australia to talk to a free and independent financial counsellor.