We understand that people have problems meeting their repayments so if you are having trouble meeting your commitments in terms of your contract with us please contact us immediately and we will try to resolve the problem with you.
It is important that you understand that if we cannot reach agreement on how to solve your problem and you remain in breach of your obligations due to late or non-payment this may result in the payment of default fees from us and could result in an adverse credit listing.
When you miss a payment, a $30.00 failed payment fee may apply.If you choose to continue to ignore your obligations and refuse to either make a payment or discuss the issue with us, we have the right to take further action, which could include registering a default on your credit file, passing your information to a specialist debt collection agency, and or other and legal action.
How much does a loan cost?admin2021-09-15T09:46:31+08:00
The costs of your loan will only increase if you fail to stick to your initial repayment schedule and you don’t contact us to make new arrangements.
You need to study the table click here for unascertainable fees and charges which may be charged if you are in default of payments and have not made arrangements with us for any changes to be recorded and properly recorded on your contract using our Internal Dispute Resolution (IDR) process.
If you have continuous problems with repayments, we may reduce the amount available to you on subsequent loans or make further loans unavailable.
We are always careful to lend amounts which will not lead to repayment difficulty or bad credit – but we also ask you not to borrow from us if you think you might struggle to repay for any reason.
What are small amount loans?admin2021-09-15T11:14:29+08:00
Small loans are for amounts of credit from $500 to $2,000 repayable within 16 weeks (4 months). They are available for personal reasons and ideal to help you meet unexpected expenses where you can pay the loan back.
Who are Small loans suitable for?
Anyone who needs small amounts of cash for short periods of time. This might be for business or personal use.
Am I eligible to apply for a Small loan?
You are eligible for a Small loan if you are over 18, have a 100 points of ID and receive regular income via full time employment. You also qualify if you are a business or an individual with an ABN.
How much can I borrow?
From $500 up to $2,000
How long can I borrow the money for?
From 17 days up to 16 weeks (4 months)
What is the repayment frequency for a Small loan?
Weekly or fortnightly.
How do I repay?
By Direct Debit on your bank account
Are additional repayments ok?
Yes can pay off your loan or make advance payments ahead of your repayment schedule with a cash payment.
What are the costs, fees and charges for a Small loan?
Just be upfront and honest, keep us up-to-date about your situation and income, and make sure there’s enough money in your account when repayments are due. If you don’t have enough money in your account, contact us before your repayment is due. All of the terms and conditions of your contract are set out for you to read before you agree to a Personal Loan. You should be sure you understand your responsibilities before you accept.
*For our Loans between $1,000 and $10,000, with a term between 2 months and 36 months, the maximum Annual Percentage Rate (APR) is 30% (Comparison rate 65.6597% p.a.) and there is a $400 Establishment Fee. A Medium Loan of $3,000 borrowed over 1 year would equate to a total amount payable of $4,410 (including a $900 establishment fee).