At Spotter Loans we are committed to the practice of responsible lending. The regulatory rules under which we are governed by Division 4 of Chapter 3 of the National Consumer Credit Protection Act, are incorporated into our Lending Policies.
We are required by this law:
To make reasonable inquiries about a borrower’s requirements and objectives;
To make reasonable inquiries about a borrower’s financial situation;
To take reasonable steps to verify the borrower’s financial situation;
To make a final assessment, based on the first 3 steps as make sure any credit contract we might suggest is “not unsuitable”.
In verifying a borrower’s financial situation, we may conduct a credit history check, we will obtain bank statements for at least the past 90 days, and consider all other information we consider relevant. We are completely transparent about all our fees and charges and any interest charged. (Please refer to Fees Statement).
If you feel as though you cannot make a repayment obligation, we are here to help provided that you give us reasonable notice.