This Credit Guide is given by Australian Credit Holdings Pty Ltd ABN 70 159 714 271 Australian credit licence 426877 (the “Licensee”) and is designed to assist you to decide whether to engage us to provide credit assistance in relation to credit contracts.
As a licensed credit assistance provider, we are required to give you a Credit Guide as soon as practicable after it becomes apparent to us that we may provide assistance to you in relation to a credit contract.
The guide includes information about us, our responsible lending obligations, the names of the credit providers with whom we conduct most of our business with, our fees, charges, and any commissions we may receive, and our dispute resolution process.
OUR OBLIGATIONS BEFORE PROVIDING CREDIT TO YOU
Under the National Consumer Credit Protection Act (NCCP), we cannot provide credit assistance to you by:
- suggesting that you apply for a particular credit contract with a particular credit provider;
- suggesting that you apply for an increase to the credit limit of a particular credit contract with a particular credit provider; or
- assisting you to do so, if the contract will be unsuitable for you.
The contract will be unsuitable for you if, at the time the contract is entered into or the credit limit is increased, it is likely that:
- you will be unable to comply with your financial obligations under the contract, or could only comply with substantial
- the contract will not meet your requirements or objectives.
We must make a preliminary assessment whether the contract will be unsuitable for you before we can provide credit
assistance to you.
To help us to make this assessment we will:
- make inquiries about your financial situation and requirements and objectives that we believe are relevant to the credit you are applying for; and
- take reasonable steps to verify your financial information – for instance by asking for evidence of your income; and
- use this information to determine whether the credit contract is unsuitable for you.
You can request a copy of our preliminary assessment. We must give you a copy (at no charge to you):
- within 15 business days, if your request is made within 2 years of our credit assistance quote;
- and otherwise within 25 business days of your request.
We do not need to give you a copy of the preliminary assessment if we did not provide credit assistance to you or your request is made more than 7 years after we provided credit assistance to you.
OUR FEES AND CHARGES
Consumers will be liable to pay the following fees and charges for our credit assistance or matters associated with providing credit assistance:
|Name of Free or Charge||Explanation||Maximum Amount||Frequency of Payment||Circumstances when it is payable|
|Origination Fee||Represents the fee payable
to provide credit assistance
GST subject to the
fee allowable under
the credit contract
|Once Only||Only if you proceed
with a credit contract
When you enter into a credit contract, we are likely to receive a commission, directly or indirectly, from the credit provider in relation to the credit contract for which we have provided credit assistance.
You may obtain additional information from us about the fees and charges payable by you, the commission likely to be received by us or the volume bonus arrangements in place, on request. This includes obtaining information about how fees and charges payable by you are worked out and a reasonable estimate of the commissions likely to be received by us and how the commission is worked out.
PAYMENTS TO THIRD PARTIES
A commission is likely to be paid to a third party for the introduction of credit business or business proposed to be financed by the credit contract or consumer lease if credit assistance is provided through one of the following classes of persons:
- a Licensed Finance Broker;
- a Credit Representative of ours; or
- a Referrer (usually being the supplier of the goods).
You may obtain from us a reasonable estimate of the amount of commission and how it is worked out on request.
HOW WE RESOLVE DISPUTES
We welcome every opportunity to resolve any concerns you may have with our products or service. If you have a complaint, are not happy with our service or just want more information, you should tell us. By telling us, you give us the best possible opportunity of fixing things. In the first instance, contact our Customer Service Team by calling 1300 360 450.
If you are not satisfied with their response you can request that their manager address your concern.
INTERNAL DISPUTE RESOLUTION
If your concern is still not resolved to your satisfaction please write to our Internal Dispute Resolution Committee at Australian Credit Holdings Pty Ltd 10 /48 Berry Street NOWRA NSW 2541. Your concern will be reviewed by our IDR Committee, which has authority to deal with the matter.
We will inform you of the outcome within 45 days or receiving your dispute or complaint.
EXTERNAL DISPUTE RESOLUTION
If your concern still remains unresolved to your satisfaction you can direct your issue for further review to the Credit and Investments Ombudsman Limited (CIO), an external review scheme to which we belong.
External dispute resolution is a free service established to provide you with an independent mechanism to resolve your specific complaints. However, you must attempt to resolve your complaint with us before contacting our external dispute resolution scheme.
Credit and Investments Ombudsman Limited (CIO)
Mail: Case Management Team
C/- Credit and Investments Ombudsman Limited
PO Box A252 SYDNEY SOUTH NSW 1235
Telephone: 1800 138 422
Fax: (02) 9273 8440
Email: To lodge a dispute online go to www.cio.org.au
Further information regarding CIO including their Terms of Reference is available from their office or on their website.
HOW TO CONTACT US
Australian Credit Holdings Pty Ltd
ABN 70 159 714 271 Australian credit licence 426877
Phone: 1300 360 450
Fax: (02) 4421 4900
Writing: Australian Credit Holdings Pty Ltd
10 /48 Berry Street NOWRA NSW 2541