Credit guide

This document provides you with information about credit we may provide to you that is regulated under the National Consumer Credit Protection Act (NCCP Act). It contains a summary of certain obligations we have under the Act in relation to such credit and what you should do if you have a complaint or dispute about how we provide the credit.

This is the Credit Guide of Good Shepherd Microfinance ABN: 36 151 124 408, of Level 11, 350 Queen Street, Melbourne, VICTORIA 3000. Australian Credit Licence 492819. Good Shepherd Microfinance is the issuer of Speckle loans.

This Credit Guide contains important information about:

  • our key obligations before entering into a credit contract with you; and
  • our complaints procedures and how you can access them.

This Credit Guide applies from 19 August 2019 and remains valid unless a further Credit Guide is issued to replace it.

Assessment

Before entering into a credit contract with you, we will need certain information from you in order to assess your application. Under the NCCP Act, we are obliged to ensure that any loan we arrange for you is not unsuitable. To decide this, we will need to ask you some questions in order to assess whether the loan is not unsuitable. The law requires us to: 

  • make reasonable inquiries about your requirements and objectives; 
  • make reasonable inquiries about your financial situation;
  • take reasonable steps to verify that financial situation, which for small amount credit contracts, requires us to obtain and consider your bank account statements for the past 90 days; and
  • make reasonable enquiries about the maximum credit amount you require. 

Credit will be unsuitable if at the time of the assessment, it is likely that at the time the loan is made: 

  • you could not pay or could only pay with substantial hardship; or
  • the credit will not meet your requirements  and objectives.

If, for example, you can only repay by selling your principal place of residence, it is presumed that the loan will cause substantial hardship unless the contrary is proved.

In order for us to perform our assessment we must ask you to provide a significant amount of information. It is therefore very important that the information you provide to us is accurate.

If we assess that the proposed loan is unsuitable for you, we cannot provide it to you but may be able to refer you to other services.

You may request a copy of the assessment from us (at no cost) and we must provide you with a copy of our credit assessment of your application if you ask within seven years of the date of the loan contract. We are only required to give you a copy of the credit assessment if you enter into a loan contract. To obtain a copy of the assessment, please email us: feedback@speckle.com.au or call us on 13 43 23.

Our internal dispute resolution scheme

We hope our service is of a highly professional and acceptable standard, but if you have any complaints you should notify us by contacting our Internal Dispute Resolution Manager at:

Phone: 13 43 23
Email: feedback@speckle.com.au 
Postal:  PO Box 12059 A’Beckett Street Vic 8006.

You should explain the details of your complaint as clearly as you can and have any supporting documentation on hand. You may do this verbally or in writing. We will try to resolve your complaint quickly and fairly as soon as possible. We must provide you with a response within 21 days, but we will try to resolve your complaint within 5 business days. 

Our external dispute resolution scheme

If your complaint cannot be resolved to your satisfaction by us, you have the right to refer the matter to our external dispute resolution provider, the Australian Financial Complaints Authority Limited by contacting them on:

Phone: 1800 931 678
Web:  http://www.afca.org.au/
Postal:  GPO BOX 3, Melbourne, VIC 3001
Quote membership number: 39519. 

External dispute resolution is a free service established to provide you with an independent mechanism to resolve specific complaints. You can obtain further details about our dispute resolution procedures and obtain details of our privacy policy on our website. 

Things you should know before you accept your loan offer

Make sure you read the loan agreement carefully to fully understand all details of the loan. If you have any doubts, you should obtain independent legal and financial advice before you enter any loan contract.

Questions?

If you have any questions about this Credit Guide or anything else about our services, just ask us via email: feedback@speckle.com.au  or phone: 13 43 23