Consumer Credit Law & Lawyers

The services of a lawyer is always advisable as consumer credit law can be complex and open to interpretation. To ensure your rights are protected, a lawyer should always act on your behalf.

Consumer Credit disputes can take many forms and involve a number of agencies. You should never attempt to handle a consumer credit law case yourself. In many cases disputes will require a court to make a judgement. In these cases having proper legal representation is always advisable.

If you need legal help and representation regarding any aspect of consumer credit law, then please complete your free legal enquiry form on the right, or click here.

Issues pertaining to consumer credit law generally include:

• Compliance
• Industry codes of practice
• Regulated credit contracts
• Consumer leases
• Related mortgages, guarantees and insurance contracts
• Related sales contracts
• Contract administration
• Termination and enforcement
• Unjust contracts
• loan agreements and loan contracts;
• Civil penalties;
• National Consumer Credit Protection Package, compliance;
• industry codes of practice;
• releases by the Australian Securities and Investments Commission;
• civil penalties;
• consumer leases;
• contract administration;
• regulated credit contracts;
• related mortgages, guarantees, insurance and sales contracts;
• termination and enforcement; and
• unjust contracts.

If you need legal help and representation regarding any aspect of consumer credit law, then please complete your free legal enquiry form on the right, or click here.

Consumer Credit Law

The consumer credit law provides important consumer protections for you. There are two laws that are relevant:
Before 1 July 2010 – the Consumer Credit Code (the “Credit Code”). This was uniform State based legislation.

From 1 July 2010 – the National Consumer Credit Protection Act 2009 (the “Credit Act”). This is national legislation. This includes the National Credit Code. All contracts that are covered by the Credit Code immediately before 1 July 2010 will be covered by the National Credit Code from 1 July 2010, but some of the old Credit Code provisions will apply to these loans rather than the new provisions.

Credit laws provide you important protections such as requiring certain information to be disclosed on the loan contract:

• The right to apply for a repayment arrangement on the grounds of financial hardship
• A default notice giving at least 30 days to repay any arrears must be issued before court action or repossession
• Procedures to be followed for the repossession of goods (which includes cars).
The above is not a complete list and you should seek legal advice if you have a dispute or you are in financial hardship.

If you need legal help and representation regarding any aspect of consumer credit law, then please complete your free legal enquiry form on the right, or click here.

As a guide, the Credit Code or Credit Act will apply if:

• There is a loan (“deferred debt”)
• The lender is in the business of providing loans
• A charge is made for providing the credit (e.g. interest or fees)
• The loan is predominantly for personal, domestic or household purposes
• The loan is for the refinance, purchase or improvement of an investment property (Only for loans granted on or after 1 July 2010)
• The debtor is a natural person ordinarily resident in Australia
• The loan contract was signed on or after 1/11/96. The exception is credit cards (and other continuing credit contracts) where the contract may have been signed at any time (even prior to 1/11/96).

Australian Consumer Credit Legislation.

The main pieces of Australian consumer credit legislation include the following:

• National Consumer Credit Protection Act 2009.
• National Consumer Credit Protection Regulations 2010.
• National Consumer Credit Protection (Fees) Act 2009.
• National Consumer Credit Protection (Fees) Regulations 2010.
• National Consumer Credit Protection (Transitional and Consequential Provisions) Act 2009.
• National Consumer Credit Protection (Transitional and Consequential Provisions) Regulations 2010.

If you need legal help and representation regarding any aspect of consumer credit law, then please complete your free legal enquiry form on the right, or click here.