Experiencing problems with your credit provider or lender?

The Consumer Credit Code governs all credit transactions taking place in Australia. You have the same standard coverage wherever you live and however you use credit.

The ‘frequently asked questions’ section in the above link will provide you with advice on a wide range of issues regarding credit, and also provides advice on what to do when things go wrong.

If you are unable to make repayments due to temporary hardship, such as illness or unemployment, you are obliged to first talk to your credit provider and try to come to some sort of written arrangement to repay your debt.

If you are unable to come to any arrangement, you have the right to apply to a court to order changes to the contract. The court may decide that your circumstances deserve a more lenient arrangement and may order your credit provider to make changes to your contract. This does not mean that the debt is reduced or cancelled. You have a right to apply for changes where the credit amount does not exceed a set amount.

Remember, there is always someone to help you. The Northern Territory has a range of financial counsellors who will be able to assist you to sort out your financial problems, check the ‘Counselling’ section in the yellow pages of the telephone directory for details.

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