Credit Guide NZ
This document contains information about your rights to ask us about any assessment we may make, our financial services and where appropriate, the recommendation of using one credit product over another. In the unlikely event you may be dissatisfied with what we do or have done, this guide also provides direction on what you need to do to remedy your dissatisfaction.
Credit Suitability and Assessment
Before we can recommend any financial product to you, we make an assessment of your current financial situation and objectives to ensure any credit product we may offer meets your needs. 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 if we believe:
(a) it is likely you could not fulfill or only do so with substantial hardship, your financial obligations to us
under the contract; or
(b) you could only meet your financial objective to us by selling your family’s main home; or
(c) the credit contract will not meet your requirements or objectives; or
(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 any charge, you may ask us to provide it before you either enter into a credit contract with us or at any time up to seven (7) years from the date you signed the contract 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.
Note: we are not obliged to give you a copy of the assessment where we do not provide you with the credit.
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 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 concern(s). 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 (IDR) Manager by telephoning 1300 275 626 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 (EDR) provider, Credit and Investments Ombudsman, You can contract them at no costs by writing to PO Box A252 Sydney South NSW 1235, phone them on 1800 138 422 or email them at firstname.lastname@example.org. Please note that you must have gone through our IDR process first before doing so. If you fail to do so, the matter will be referred back to us to resolve in the first instant.