This credit guide is provided by 1300GETLOANS Pty Ltd, trading as Wonder Loans (Authorised Credit Representative Number: 490835), an authorised credit representative for Easy Financing Pty Ltd (Australian Credit Licence No. 470114). This guide outlines information about your right to inquire about any assessment we may make. In the unlikely event you may be dissatisfied with our services, it provides directions on how to address your dissatisfaction. It also outlines any fees or commissions paid by you to the authorised credit representative for acting as a credit representative.
Credit Suitability and Assessment
Before we can recommend any financial product to you (such as a credit contract), we will assess your current financial situation and objectives to ensure any credit product we offer meets your needs. We make reasonable inquiries and ask you to provide verifiable information.
We will not allow you to enter into a credit contract if we believe:
(a) it is likely you could not fulfil your financial obligations to us under the contract without substantial hardship;
(b) you could only meet your financial obligations to us by selling your family’s main home;
(c) the credit contract will not meet your requirements or objectives;
(d) the National Consumer Credit Protection Act (Cth) 2009 prohibits us from doing so.
Should you want a written copy of our assessment, free of charge, you may request it before you enter into a credit contract with us or at any time up to seven years from the date you signed the contract with us.
Upon receiving a request for a copy of our assessment, we will supply it to you within seven business days of receiving the request if your inquiry is made within two years of the date you entered into the credit contract. Otherwise, we will supply it to you within twenty-one business days. If we have bought your debt from your original credit provider, we have an additional eight and four days, respectively, to comply.
We are not obliged to give you a copy of the assessment if we do not provide you with credit.
Authorised Credit Representative
The credit provider, being an Australian Credit Licensee, takes full responsibility for the approved credit activities of the authorised credit representative in accordance with the National Consumer Credit legislation.
The Authorised Credit Representative is authorised to engage in credit activities on behalf of the credit provider, including assessing the suitability of the provision of credit and exercising the rights of a credit provider in relation to a credit contract or proposed credit contract.
There are no fees or charges payable by you to the Authorised Credit Representative for acting as a credit representative. Accordingly, the method for calculating these fees is not applicable. The remuneration received by the Authorised Credit Representative is not by way of commission.
In addition to the credit products we offer, we also provide credit assistance. We provide credit assistance when we: (a) suggest or assist you to apply for a particular credit contract with a particular credit provider; or (b) suggest or assist you to apply for an increase to the credit limit of a particular credit contract with a particular credit provider; or (c) suggest you remain in a particular credit contract with a particular credit provider.
We are paid fees by Credit Providers for introducing customers to them. We usually receive pay based on the credit provider, the extent of work we need to undertake on your behalf, and the credit product you select. Fees can range from $100 to $1,000 and are a fixed fee. The actual fee will be payable only if you draw down the loan and funds are released by the credit provider.
We believe that business relationships are built through trust, openness, honesty, integrity, consistency, and respect towards others. Sometimes 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. Communication is the key to resolving these differences of opinion. The steps below will assist both of us to 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 concern. We can usually resolve the matter amicably, without delay.
Step 2. If you’re still not happy with our response, you should contact our Internal Dispute Resolution team by telephoning 1300 269 411 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 email it to us at email@example.com.
Step 3. Should you still be dissatisfied after using both of the above steps, you may contact our External Dispute Resolution provider, The Australian Financial Complaints Authority. You can contact them at no cost by writing to GPO Box 3 Melbourne VIC 3000, phoning them on 1800 931 678, or emailing them at firstname.lastname@example.org. Please note that you must have gone through our Internal Dispute Resolution process first before doing so. If you fail to do so, the matter will be referred back to us to resolve in the first instance.