CREDIT GUIDE
Australian Credit Acceptance Pty Ltd
Australian Credit Licence No: 350458
This guide describes our obligations to all consumers and acknowledges your right to ask us about our services namely, the type of assistance provided, who we deal with, our responsible lending obligations and the costs you may incur in completing a transaction.
For You as the Consumer
It also provides direction if you are dissatisfied or have a complaint about the services we have provided. For your further information we have detailed in this guide the action that you may take to satisfy any query that may arise in our dealings. We welcome the opportunity to promptly resolve, to the best of our ability, any dissatisfaction that you feel justified in bringing to our attention. Early contact where disputation occurs, in most cases will resolve most issues.
What are our fees?
â–º WE DO NOT CHARGE UPFRONT FEES DIRECTLY TO YOU !
â–º With some credit products either in addition to or in lieu of the commissions that we will receive from the credit provider, if you proceed, we may charge you only ONE of either an origination fee, application fee or brokerage fee, up to a maximum of $990.00 we may charge you a lower fee depending on the extent of assistance required. This single fee will be included in the principal loan amount, if agreed, and will be paid to us from the loan proceeds as per your signed authority.
â–º No fee is payable if you do not enter the loan contract even after an approval has been obtained.
Our Top 6 Credit Providers Credit Products Available
Esanda/ ANZ Bank Chattel Mortgage
GE Money Consumer Mortgage
Macquarie Leasing Consumer Lease
Liberty Financial / Secure Funding Leasing
Australian Motorcycle Finance Personal Loans
Leasewise Hire Purchase
Commissions
Commission may be paid to us by the credit provider upon drawdown or settlement of the chosen credit facilitry
Commission amounts will vary between credit providers and may be subject to certain bonus commissions based on the total amount of settled credit facilities introduced by us to that credit provider during any month or promotional period. Therefore some Commission amounts may not be ascertainable at the time of the drawdown of the credit facility.
Where Commissions are not linked to the total volume of settled credit facilities they are usually calculated as a percentage, in the range of 0% to 7%, of the amount of credit provided.
Full disclosure of all ascertainable commission will be made in the Credit Proposal Disclosure.
Dispute Resolution
Here at Australian Credit Acceptance our goal is 100% customer satisfaction, so if we fall short of this we want to know. We realize that in rare instances things can go wrong and you may feel the need to make a complaint. To help you do this we have developed an Internal Disputes Resolution Process and are members of the Credit Ombudsman Service Limited (COSL) The Credit Ombudsman Service Limited provides an External Disputes Resolution process that you can access should we fail to resolve your complaint to your satisfaction. These services are only related to complaints about breaches in the provision of CREDIT SERVICES and are free of charge. The staff of Australian Credit Acceptance Pty Ltd receives training in complaints handling so you can be assured that any complaint will be handled in a timely, professional and courteous manner.
Making a complaint
FIRST CONTACT
• You can lodge a complaint verbally
• In person, or
• by telephone 1300 360 450
• You can lodge a complaint in writing by
• letter,
• email, or
• Fax
• You can lodge a complaint with any staff member.
• Mailing Address : 10/48 Berry Street Nowra NSW 2541
• Email: admin@acaloans.com.au
• Fax: 02 44214900
How will your complaint be handled?
The Staff member who receives your complaint,
• will document your concerns,
• record your complaint in the Complaints Register, and
• escalate your complaint to our Internal Disputes Officer.
The Internal Disputes Officer will,
• contact you about your complaint
• give you an estimate of when you can expect a decision
• investigate your complaint
• advise you of the decision and the reasons for the decision on your complaint
IF YOU ARE STILL NOT SATISFIED
You can contact our free external dispute resolution service for an independent review:
You MUST register any complaint with Our Internal Dispute Resolution Process before accessing the Financial Ombudsman Credit Ombudsman Service Limited Phone number: 1800 138 422 Web Address: www.cosl.com.au Address: Case Management Team Credit Ombudsman Service PO Box A252 Sydney South NSW 1235
Our Responsible Lending Obligations
It is our duty to gain a reasonable knowledge of your current financial situation, financial objectives and borrowing needs before we can provide credit assistance that meets your requirements. As a credit licensee we and our representatives are required to:
1. Make reasonable inquiries about your financial situation, and your requirements and objectives
2. Take reasonable steps to verify your financial situation
3. Make a preliminary assessment about whether the requested credit facility is ‘not unsuitable’ for you based on the inquiries and information obtained in the first two steps.
When we have provided credit assistance
you can request a written copy of the preliminary assessment which will be provided free of charge. This request can be made at any time up to 7 years after we have provided credit assistance. When the request is made within 2 years of the date we provided credit assistance we will give you the preliminary assessment within 7 business days of the date of the request. Otherwise we will give you the preliminary assessment within 21 business days of the date of the request.
When we can not provide credit assistance
We are prohibited by law from providing credit assistance that does not meet your requirements or objectives and/or where you could only comply with your financial obligations under the requested credit facility with substantial hardship or where other circumstances would make the requested credit facility unsuitable for you.
Its all about having a dream, believing in that dream, and turning it into a possibility. The possibilities then become endless so Dream it, believe it, set the goals and Achieve It
As an ongoing service and commitment to our clients we are proud to supply a series of informational articles connected to the goods and types of loans that we are committed to. Our fist in this series is the Horse Float Towing and Safety article which can be accessed from our Horse Float page under that Title. We are also working on several "E" Books on How to borrow which will be available shortly so watch here for further details. more.....
