This is the Credit Guide for Ausfinancial Pty Ltd ACN 118 176 631 t/as Swoosh Finance ‘we’/’us’/’our’/’Swoosh Finance’), of 33/207 Currumburra Road, Ashmore, QLD 4214. Australian Credit License Number 387993.
This Credit Guide has been prepared in accordance with the Nation Consumer Credit Protection Act 2009(Cth) (‘NCCP Act’). It acknowledges your right 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 even 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
In relation to our products and services, we will not:
- Issue a credit contract; or
- Increase the credit limit of a credit contract with you,
If we assess the credit contract or increase as being unsuitable for you..
When a Credit Contract is Unsuitable
A credit contract or increase in credit will be unsuitable if:
- It is likely that you will be unable to comply with the financial obligations under the contract, or could only comply with substantial hardship; or
- The contract does not meet your requirements or objectives; or
- It was presumed that you could only comply with the obligations under the contract by selling
your principal place of residence or
- The loan contract was for a small amount credit contract (as defined under the NCCP Act); and
- You were in default under another small amount credit contract; or
- In the 90 days before, you owed money under 2 or more small amount credit contracts,
unless we prove that you can comply with your credit contract obligations without substantial hardship.
For the purposes of determining whether the contract will be unsuitable, we will only take into consideration information regarding your financial situation, requirements or objectives, that, at the time of entering the contract we had reason to believe was true.
Making an Assessment
To help us to make this assessment we will:
- Make reasonable inquiries about your financial situation and requirements and objectives that we believe are relevant to the credit you are applying for; and
- Take reasonable steps to verify your financial information – for instance by asking for evidence of your income; and
- Use this information to determine whether the credit is unsuitable for you.
Requesting a Copy of our Assessment
You can ask for a written copy of our final assessment, which will include a summary of the inquiries we made and the factual information we relied on.
You can ask for this assessment either before you decide to accept our offer of credit or up to 7 years after you enter into the credit contract (or accept a credit limit increase).
However, we’re not required to provide you an assessment when your application is declined or if you decide to not increase your credit limit.
We will provide the assessment within 7 business days if you accepted the credit less than 2 years from your request. Otherwise, we will provide the assessment within 21 business days. If we have bought your debt from your original credit provider, we have an additional eight (8) and four (4) days to comply.
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 recognize communication is the key to solving these difficulties and the steps below will assist both of us quickly get our relationship back on track.
Internal Dispute Resolution
Step 1 – Customer Care Area
If there is an issue you would like to discuss, please contact our Customer Care team. We can usually resolve the issues amicably. We strive to resolve complaints within five business days but some complaints take longer to resolve. If it will longer than seven days, we will refer it to our Internal Dispute Resolution Manager. (if resolved within 5 days, no need to apply full IDR process RG 165.80)
Phone: (07) 3319 1004
Step 2 – Internal Dispute Resolution (IDR) Manager
If you’re unhappy with our response, you should contact our Internal Dispute Resolution (IDR) Manager. We may ask that you put your complaint in writing to us so that we may investigate it further. We strive to resolve these complaints as soon as possible, this will be within 21 days for default notice and hardship notice complaints, and no longer than 45 days for all other complaints.
Phone: (07) 3319 1004
External Dispute Resolution
If we can’t resolve your complaint or respond within the time limits, you may contact our ASIC approved External Dispute Resolution (EDR) provider, Financial Ombudsman Service. You can contact them at:
Please note that before contacting the Financial Ombudsman Service you must have gone through our IDR process. If you fail to do so, the matter will be referred to us to resolve in the first instance.