Credit Guide

Credit Guide

This is the credit guide for Simple Finance Group Pty Ltd, Australian Credit Licence No. 509422. It outlines information about your right to ask us about any assessment we may make and in the unlikely event you may be dissatisfied with what we do or have done, direction on what you need to do to remedy your dissatisfaction.

Credit Suitability and Assessment

Before we can recommend any financial product to you, the law requires that we assess your current financial situation and objectives to ensure any credit product we may offer meets your needs. To do this, we will make reasonable enquiries and ask you to provide verifiable information directly or where we deem it appropriate, we may obtain it from others whom we may contact. Some of these steps may be required by law.

We will not allow you to enter into a credit contract or increase a credit limit on any existing credit contract if we believe that:

• it is likely you could not fulfill or only do so with substantial hardship, your financial obligations to us under the contract; or
• you could only meet your financial objective to us by selling your family’s main home; or
• the credit contract will not meet your requirements or objectives; or
• any regulation under the National Consumer Credit Protection Act (Cth) 2009 prohibits us from doing so.

Assessment Copy

Should you want a written copy of our assessment, free of any charge, you may ask us to provide it:

• before you either enter into a credit contract or we increase your credit limit on any existing credit contract you may have with us; or
• at any time up to seven (7) years from the date you signed the contract or obtained the credit limit increase on a particular credit contact with us.

The law imposes time limits on us giving you this information. We have seven (7) business days from when you make your request to supply it if your inquiry is made within two (2) years of the date you entered into the credit contract, otherwise we have twenty-one (21) business days to do so. If we have bought your debt from your original credit provider, we have an additional eight (8) and four (4) days to comply.

We are not obliged to give you a copy of the assessment where we do not provide you with the credit or increase the credit limit.

Dispute Resolution

Business relationships are built through trust, openness, honesty, integrity, consistency, and respect towards others. Sometimes, though, there may be differences of opinion, particularly when things don’t quite work out the way you intended when you took out the credit contract. We recognise that communication is the key to solving these difficulties and the steps below will assist both of us quickly get our relationship back on track.

Step 1  If you are dissatisfied with something we’ve done, we encourage you to phone us and explain your             concerns. We can usually resolve the matter amicably and without delay.

Step 2  If you’re still not happy with our response, you should contact our Internal Dispute Resolution (IDR) team. as soon as possible. We may ask that you put your complaint in writing to us so that we may investigate it further. You can find their email and phone number on our website.

Step 3  Should you still be dissatisfied after using both of the above steps, you may contact the AFCA Scheme. You can contact them at no cost. The AFCA scheme can be contacted at 1800 931 678, info@afca.org.au or GPO Box 3, Melbourne VIC 3001. Please note that you must have gone through our IDR process before contacting AFCA. If you fail to do so, the matter will be referred back to us to resolve in the first instant.