IPF Digital – Credit Guide

IPF Digital Australia Pty Ltd
Suite 58
20-28 Maddox St
Alexandria NSW 2015
Phone: 1800 091 967
Fax: 02 8079 0791
ABN 59 130 894 405
Australian Credit Licence number 422 839

1.1 Who we are

We are IPF Digital Australia Pty Ltd (ABN 59 130 894 405) (IPF Digital). IPF Digital is an authorised Australian credit licensee under the National Consumer Credit Protection Act 2009 (Cth) (NCCP Act). Our Australian Credit Licence (ACL) number is 422 839. This credit guide provides important information about IPF Digital and its obligations as a credit provider under the NCCP Act. In this credit guide, the words “we”, “our” and “us” refers to IPF Digital.

1.2 Contacting us

You can contact us by telephone, email or fax, using the details below:
Customer Service Manager
Suite 58
20-28 Maddox St
Alexandria NSW 2015
Australia

Ph: 1800 091 967
Fax: 02 8079 0791
Email: info@credit24.com.au

1.3 IPF Digital’s obligation to lend responsibly

IPF Digital is a responsible lender, committed to responsible lending conduct. Prior to entering a credit contract we are required by law to:

  • make reasonable inquiries about your requirements and objectives in relation to the credit contract
  • make reasonable inquiries about your financial situation
  • take reasonable steps to verify the information you provide regarding your financial situation, and
  • make an assessment on whether the credit contract is unsuitable for you.

We will also be required by law to assess the credit contract as unsuitable for you if, at the time of assessment:

  • it will not meet your requirements or objectives
  • it is likely that you will not be able to comply with your financial obligations under the contract, or
  • it is likely that you would only be able to comply with your financial obligations under the contract with substantial hardship.

We will not enter into a credit contract which we assess to be unsuitable for you. In view of this, it is vital that any and all information that you provide to us is complete and accurate. If you request a copy of the assessment before we enter into the credit contract, we will not enter into the contract or increase your limit until we have given you a copy of the assessment. You may also request a copy of the assessment within 7 years of the date we enter into the credit contract. If you do, we will give you a written copy of that assessment without charge:

  • within 7 business days, if the copy is requested within 2 years of the day on which the credit contract is made, or
  • within 21 business days, if the copy is requested more than 2 years, but within 7 years, of the day on which the credit contract is made.

1.4 Debt consolidation considerations

If you are using any part of this loan to pay off or reduce existing loan(s)/debts (including combining these into a single loan), it is important to consider the following:

  • Consolidating your loans usually involves taking out a single loan that pays off your existing debts. This can give you a chance to manage your debt in a simpler way by paying the loan off with a single monthly payment that can be less than the amount you are paying each month now.
  • Spreading your payments over a longer term means you can reduce the monthly repayment amount but you could end up paying more overall than under your existing arrangements.
  • You should also consider if any early repayment charges apply to your existing loans and if this form of borrowing is appropriate for your circumstances. If you don’t want to pay these fees, you may prefer to just keep your debts separate.
  • If you do consolidate your debt, just make sure you don’t borrow more until you’re sure you can afford it.”
  • Credit24 is required by law to act responsibly and Credit24 will rely upon the information you provide about your existing loans and on your undertaking to pay them out from the loan funds provided by Credit24, in considering the suitability and the affordability of the Credit24 loan.

1.5 Resolution of concerns and complaints

Internal dispute resolution

We adopt a timely and best practice approach to dealing with customer concerns and complaints which is based on the Australian Securities and Investments Commission guidance in ‘Regulatory Guide 165: Licensing: Internal and external dispute resolution’ If you have a complaint regarding a credit contract with us, you can contact us first by telephone, email or fax.

Complaints received by IPF Digital will be acknowledged immediately or as soon as practicable. We will make our best attempt to provide a final response to your complaint within a maximum of 45 days (or 21 days for disputes involving default notices or hardship) of receiving your complaint.

External dispute resolution

If you feel that your complaint has not been dealt with satisfactorily by our internal dispute resolution measures, and you would like an independent review of your complaint, you can contact our approved external dispute resolution scheme, the Credit & Investments Ombudsman (CIO), via the following channels:
Telephone: 1800 138 422 (or for if you are hearing and/or speech impaired, via TTY (teletypewriter): 1800 555 677)
Email: go to the CIO website http://www.cio.org.au/
Fax: (02) 9273 8440
Mail: Case Management Team

C-/Credit & Investments Ombudsman
PO Box A252
Sydney South NSW 1235

CIO Membership No. M0016669
IPF Digital Australia Pty Ltd
Australian Credit Licence number: 422 839