This is the Credit Guide of Swift Loans Australia Pty Ltd trading as Oz Cash Loans ABN 59 600 167 084, of PO BOX 507 Toorak, VIC, 3142. Australian Credit Licence 461533.
This Credit Guide contains important information about:
- a description of our key obligations before entering into a credit contract with you; and
- our complaints procedures and how you can access them.
This Credit Guide applies from 20 February 2017 and remains valid unless a further Credit Guide is issued to replace it.
We will need information from you
Under the NCCP Act, we are obliged to ensure that any loan or principal increase to a loan we arrange for you is not unsuitable. To decide this, we may need to ask you some questions in order to assess whether the loan 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 your financial situation.
We must not enter into a loan contract with you if the contract is unsuitable for you. A loan contract is unsuitable for you if, at the time you enter it:
- it was likely that you would be unable to comply with the financial obligations under the contract, or could only comply with substantial hardship; or
- the contract did not meet your requirements or objectives; or
- it was presumed to be unsuitable because:
- it was presumed that you could only comply with the obligations under the contract by selling your principal place of residence; or
- the loan contract was for a small amount credit contract (as defined under the NCCP Act); and
- you were in default under another small amount credit contract; or
- in the 90 days before, you owed money under 2 or more small amount credit contracts, and we cannot prove that you can comply with your credit contract obligations without substantial hardship.
To determine if a loan contract will be unsuitable, we only take into account information about your financial situation, requirements or objectives that, at the time of entering into the contract, we had reason to believe were true.
For this reason, we must ask you to provide a significant amount of information. It is therefore very important that the information you provide to us is accurate.
Loan Suitability Assessment
As a condition of our licence we are also obliged to conduct a ‘Credit Assessment’ prior to entering a contract with you or increasing the limit of an existing contract. This Assessment is to determine if the contract is unsuitable.
If Swift Loans Australia Pty Ltd trading as Oz Cash Loans has provided you with a loan, you may request a copy of your credit assessment that we will supply to you at no charge:
- before entering the credit contract or before the credit limit is increased, if you make the request before then,
- if the request is made within the first 2 years of entering the contract we will supply it within 7 business days,
- if the request is made after 2 years from entering the contract we will supply it to you within 21 business days.
We are not obliged to give you a copy if:
- the request is made over 7 years from entering the loan contract or increasing the credit limit,
- or a loan contract was not entered into for any reason.
Our internal dispute resolution scheme
We hope that you are pleased with our services, but if you have any complaints you should notify us by contacting our
Complaints Manager at: firstname.lastname@example.org Phone: 1300 883862 Fax: 03 99729524 or Mail: PO Box 507, Toorak, VIC, 3142
You should explain the details of your complaint as clearly as you can. You may do this verbally or in writing. We will try to resolve your complaint quickly and fairly. We must provide you with a response within 45 days, but we will try to resolve your complaint as soon as possible.
Our external dispute resolution scheme
If your complaint cannot be resolved to your satisfaction by us, you have the right to refer the matter to our external dispute resolution provider, the Credit & Investments Ombudsman Limited by contacting them on: Phone: 1800 13 84 22 Web: http://www.cio.org.au/ or Mail: PO BOX A252, South Sydney, NSW 1235
External dispute resolution is a free service established to provide you with an independent mechanism to resolve specific complaints.
Things you should know
Before you accept your loan offer, make sure you read the loan contract carefully to understand the full details of the loan.
If you have any doubts, you should obtain independent legal and financial advice before you enter any loan contract.
Have any questions?
If you have any questions about this Credit Guide or anything else about our services please contact us anytime via