HOW WE RESOLVE COMPLAINTS AND DISPUTES
We have an Internal Dispute Resolution process and are also a member of an External Dispute Resolution Scheme.
If you have a complaint about our services, please contact us. We aim to resolve the majority of complaints within five (5) business days. If we believe it may take longer to resolve your complaint or to investigate the matter thoroughly, we will let you know and keep you informed of progress.
You can make a complaint in writing (letter or email) or verbally (telephone or personal representation). Your complaint will be referred to our complaints officer for response.
Our complaints officer is:
- Contact: Phil Aldridge
- Telephone: 038 568 6000
- Email: email@example.com
- Fax: 03 8672 3561
- Mail: Phil Aldridge, Rate Detective Pty Ltd, Level 1, 240 Chapel Street, Prahran VIC 3181
In many cases, we will be able to resolve your complaint using our internal dispute resolution process. However, if we are unable to resolve your complaint to your satisfaction then you may refer the matter to our external dispute resolution scheme provider. This is a free service designed to provide you with an independent mechanism to resolve specific complaints.
Our external dispute resolution scheme provider is Australian Financial Complains Authority. You can contact them at no cost by:
- Telephone: 1800 931 678 (free call)
- Website: http://www.afca.org.au/
- Mail: GPO Box 3, Melbourne VIC 3001
All details are current as November 2nd 2018. We publish minor changes on our website and periodically will update our Credit Guide.
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Here's what a loan might look like
Here's what a small loan might look like...
You're after a loan for $1,000 for medical or dental bills. Your are looking to repay the loan back after 6 months and are happy to make fortnightly payments.
Here's what a medium loan might look like...
You're after a loan for car repairs for $2,500 and are looking to make payments back on a weekly basis over 2 years.
Small Loan Example
- $110.77=Per Fortnight
- $1,440.00Total Payments
Medium Loan Example
- $43.19=Per Week
- $4,490.88Total Payments
In the above example You'll pay:
- Loan Amount Financed:$1,000
- Establishment Fee:$200(set by NCCP at 20% of the loan amount)
- Monthly Permitted Fee:$40per month charged on the anniversary of the loan
- Amount of Credit of the Loan:$1,240
- Total Amount of Interest Payable:NIL
- Direct Debit Fees:$25.74($0.99 per transaction)
- Total amount of repayments:$1,440.00
- Nominal Percentage Rate (Interest) per annum:0% as defined by NCCP
- Comparison Rate: 160.0571% as defined by NCCP
In the above example You'll pay:
- Loan Amount Financed:$2,500
- Establishment fee:$400(Set by NCCP)
- Amount of Credit of the Loan:$2,900
- Total Amount of Interest Payable:1,590.86
- Repayments:103 x $43.19 + $42.31(a final payment)
- Total amount of repayments:$4,490.88
- Nominal Percentage Rate (Interest) per annum:48% as defined by NCCP
- Comparison Rate: 65.5138% as defined by NCCP
WARNING: This comparison rate is accurate and applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.
See our fullFee Statement for fee details.
"These examples are provided for illustrative purposes only. They do not represent an offer from Rate Detective Pty Ltd. A Spotter Loan is subject to the completion of an application, which is subject to responsible lending checks that take your personal needs and financial circumstances into account."
For loans under $2000 the minimum repayment term 90 days, maximum repayment term 12 months.