- If a consumer comes to you in financial difficulty, consider whether there has been a possible breach of the responsible lending provisions. It is best to raise all issues at once.
- Ask your client about their financial position at the time they applied for the loan and what information they were asked to provide.
- Ask the lender for a copy of the suitability assessment – these must be provided on request and free of charge.
- Compare the two for any discrepancies and ask your client about them.
- Contact the lender’s internal dispute resolution area and ask for a detailed response.
- If the lender agrees there has been a breach, have a discussion about how it ought to be resolved.
- Encourage your client to continue making payments of whatever they can afford – the claim may not be successful and they do not want to get too far behind in their repayments.
- Familiarise yourself with the following FOS publications:
MoneySmart by ASIC
- Financial Counselling Australia
- Financial Counsellors ACT - Ph: 02 6257 1788
- Financial Counsellors Association of New South Wales
- Financial Counsellors Association of Queensland
- Money Workers Association of the NT - to be advised
- Financial Counsellors Association of Western Australia
- South Australian Financial Counsellors' Association
- Financial and Consumer Rights Council
- Financial Counselling Tasmania - Ph: 03 6213 3549
- Legal Aid ACT
- Legal Aid New South Wales
- Legal Aid Queensland
- Northern Territory Legal Aid Commission
- Legal Aid Western Australia
- Legal Services Commission of South Australia
- Victoria Legal Aid
- Legal Aid Commission of Tasmania
Community Legal Centres
- ACT Association of Community Legal Centres
- Community Legal Centres NSW Inc
- Northern Territory Association of Community Legal Centres Inc
- Queensland Association of Independent Legal Services Inc
- South Australian Council of Community Legal Services Inc
- Tasmanian Association of Community Legal Centres Inc
- Federation of Community Legal Centres (Victoria) Inc
- Community Legal Centres Association (WA) Inc
More links are available here.