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Credit Guide

Razorbay PL

ACN 151 608 418
 (hereinafter referred to as “RazorMoney”)

ACL NUMBER: 411104

Under the National Consumer Credit Protection Act 2010 (“the Act”), there are certain obligations that we are required to undertake when we provide you with Credit Assistance by taking a preliminary assessment. The primary obligation is that we are required to assess whether the provision of credit is unsuitable having regard to your financial circumstances as well as looking at your requirements and objectives for seeking credit. We do this by undertaking a written credit assessment.

We are prohibited from providing credit assistance after we have undertaken a preliminary assessment if in our reasonable opinion, amongst other considerations:

  1. You would be unable to comply with your financial obligations under the proposed contract or could only comply with substantial hardship;
  2. The loan does not meet your requirements or objectives and or is unsuitable.

Pursuant to the National Consumer Credit Protection Act 2009, if you request a copy of the written credit assessment it will be provided to you free of charge.
If you make a request for a copy of your assessment after the credit contract is entered into, we will provide a copy within 7 days.
If a request is made after two years from entering into the contract, we will provide a copy within 21 days.

Enquiries, Concern And Resolution Of Complaints

What to do if you have any concerns
Step 1: We encourage you to discuss the matter with one of our friendly staff members that you dealt with when being granted the loan.
Step 2: If you are dissatisfied with our response, you may refer your dispute to the internal dispute resolution process of Razor Money, where our designated Compliance Manager will review the decision.

You may contact the Compliance Manager by writing to the following address:

Local office:
Compliance Manager

Razor Money
2E/52 Helena St
MIDLAND, WA 6056
Phone: 08 92740833

By Email: info@razormoney.com.au

We will endeavour to notify you of the outcome of their decision within 21 business days of Razor Money receiving your request.

Step 3: If you do not agree with the decision, you may apply to our External Dispute Resolution service which is aimed at resolving disputes between credit providers and customers.

Our EDR provider is Australian Financial Complaints Authority (AFCA)

  • Internet: https://www.afca.org.au/
  • Phone: 1800 931 678
  • Fax: (03) 9613 6399
  • Email: info@afca.org.au
  • Mail: Australian Financial Complaints Authority Limited
    GPO Box 3
    
Melbourne VIC 3001
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WARNING: Do you really need a loan today?

It can be expensive to borrow small amounts of money and borrowing may not solve your money problems.

Check your options before you borrow:

  • For information about other options for managing bills and debts, ring 1800 007 007 from anywhere in Australia to talk to a free and independent financial counsellor
  • Talk to your electricity, gas, phone or water provider to see if you can work out a payment plan
  • If you are on government benefits, ask if you can receive an advance from Centrelink: www.humanservices.gov.au/advancepayments

The Government’s MoneySmart website shows you how small amount loans work and suggest other options that may help you.

*This statement is an Australian Government requirement under the National Consumer Credit Protection Act 2009*