credit guide

Lender :

Hardeep Kumar Wagla t/as Installment Loans
ABN No: 13-690-290-821
Australian Credit Licence No. 389610
8 Budawang Street, Parkinson 4115
Telephone: 0457 857 029

Assessing your suitability

To comply with the National Consumer Credit Protection (NCCP) Act we must not offer credit to you or increase your credit limit if the contract is not suitable for you. Credit contracts are deemed as unsuitable if at the time of application:

  1. You are not able to meet your financial obligations under the contract.
  2. Meeting your repayment obligations will cause substantial hardship.
  3. The contract does not meet your needs.

Your suitability will be assessed before you enter in a new credit contract or increase the limit of an existing one.

We must provide a copy our assessment to you on request at no charge:

  1. Before you enter into a credit contract (or increase the credit limit of a current contract).
  2. Within 2 years of entering into/updating the credit contract.
  3. At any time, we must action your request within 21 business days.

We are not required to provide you with a copy of the assessment if:

  1. Your request is received more than 7 years after the contract was entered into.
  2. Before you either enter into a credit contract or we increase your credit limit on existing credit contract you may have with us.

Dispute Resolution

Installment Loans provide our customers with readily accessible, free internal and external dispute resolution processes.

What is a dispute?

Disputes arise when you complain to Installment Loans regarding a service or product are dissatisfied with the response, we give you.

How do I resolve a dispute?

The first step is to contact our Internal Dispute Resolution team in writing detailing your dispute. To ensure the fastest possible turnaround times, please provide us with as much information as possible.

Internal Dispute Resolution

You will be notified in writing of the outcome of your dispute and the reasons for this outcome by the IDR officer. If you are unhappy with the outcome you can utilise our external dispute resolution scheme at no charge.

You do not have any obligations to pursue disputes with Installment Loans using their internal dispute resolution procedures.

You may commence legal proceedings at the same time as you are utilising the internal dispute resolution procedure.

Installment Loans IDR procedure does not waive any of your legal rights according to the law or any contract between you and Installment Loans. Contracts may include but are not limited to: loan contracts, guarantees, terms and conditions of account(s).

External Dispute Resolution

This is a free service established to provide you an independent external body to resolve specific complaints.

External Dispute Resolution requirements:

Firstly, you need to attempt to resolve your complaint with us via our IDR service.

You may contact our external dispute resolution scheme if:

Your complaint is unresolved after seeking internal resolution; or
If you need legal advice.

They will take legal principles, industry codes, good industry practice and relevant determinations of previous similar cases by the AFCA or their predecessors.

Their contact details are below:
Australian Financial Complaints Authority Ltd (AFCA)
GPO Box 3
Melbourne, VIC 3001
Phone: 1800 931 678 (9am to 5pm AEST)
Fax: (03) 9613 6399
online complaint form click here.

If you need more information regarding AFCA and their Terms of Reference visit their office or website.

What if I have questions or need more information?

If you need more information about the services offered by Installment Loans or this guide, please contact us using the details below:

Installment Loans
Ph. 0457857029