This is the Credit Guide for Red Tree Finance Pty Ltd ACN 661 567 184 (‘we’/’us’/’our’/’Red Tree Finance’), Australian Credit License Number 543794.
This Credit Guide has been prepared in accordance with the National Consumer Credit Protection Act 2009 (Cth) (‘NCCP Act’) and the National Consumer Credit Protection Regulations 2010 (Cth) (‘NCCP Regulations’). It acknowledges your right to ask us about any assessment we may make, and our financial services. In the unlikely event you may be dissatisfied with what we do or have done, this guide also provides direction on what you need to do to remedy your dissatisfaction.
Credit Suitability and Assessment
Our Obligations
In relation to our products and services, we will not:
- Issue a credit contract; or
- Increase the credit limit of a credit contract with you,
If we assess the credit contract or increase as being unsuitable for you.
When a Credit Contract is Unsuitable
A credit contract or increase in credit will be unsuitable if it is likely that:
- you will be unable to comply with the financial obligations under the contract, or could only comply with substantial hardship; or
- the contract will not meet your requirements or objectives.
Note that if you could only comply with the obligations under the contract by selling your principal place of residence, it is presumed that you would be subject to substantial hardship and the credit contract or increase in credit is likely unsuitable.
For the purposes of determining whether the contract will be unsuitable, we will only take into consideration information regarding your financial situation, requirements or objectives, that, at the time of entering the contract we had reason to believe was true.
Making an Assessment
In accordance with the NCCP Act, to help us to make this assessment we will:
- make reasonable inquiries about your financial situation and requirements and objectives that we believe are relevant to the credit you are applying for;
- take reasonable steps to verify your financial information – for instance by asking for evidence of your income; and
- use this information to determine whether the credit is unsuitable for you.
Requesting a Copy of our Assessment
You can ask for a written copy of our final assessment, which will include a summary of the inquiries we made and the factual information we relied on.
You can ask for this assessment either before you decide to accept our offer of credit or up to 7 years after you enter into the credit contract (or accept a credit limit increase).
However, we’re not required to provide you with an assessment when your application is declined or if you decide to not increase your credit limit.
If your request for the assessment is within 2 years from the day you entered into the credit contract (or accepted a credit limit increase), we must provide the assessment within 7 business days, we will provide the assessment within 21 business days of your request for the assessment. If we have bought your debt from your original credit provider, we have:
- up to 15 business days to provide the assessment if your request for the assessment is within 2 years from when you entered into the credit contract (or accepted a credit limit increase); or
- 25 business days if your request for the assessment is after 2 years of you entering into the credit contract (or accepting a credit limit increase).
We are not obliged to provide a copy of the assessment after 7 years. We will not request or demand payment of an amount in connection with providing you with a copy of your assessment
Dispute Resolution
Business relationships are built through trust, openness, honesty, integrity, consistency and respect towards others.
Sometimes, though, there may be differences of opinion, particularly when things don’t quite work out the way you intended when you took out the credit contract. We recognise communication is the key to solving these difficulties and the steps below will assist both of us to quickly get our relationship back on track.
If there is an issue or complaint you would like to discuss, you should contact our Internal Dispute Resolution (IDR) Manager. We will strive to acknowledge the issue and/or complaint as soon as practicable and in any case within 24 hours (or one business day) of receiving it. We may ask that you put your complaint in writing to us so that we may investigate it further. We strive to resolve these complaints as soon as possible, this will be within 21 days for default notice and hardship notice complaints, and no longer than 30 days for all other complaints.
In respect of hardship notice complaints, if we require further information then we must request this from you within 21 days of receiving your complaint. You have 21 days in which to respond with the further information. Once we have received the further information from you, we will have a further 21 days to respond to you. If we do not receive the requested further information from you within 21 days of requesting it, we have another 7 days (i.e. 28 days in total from the date of request) within which to respond to you.
Email: complaints@redtreefinance.com.au
Phone: (02) 9044 5633
External Dispute Resolution
If we can’t resolve your complaint or respond within the time limits, we will refer your complaint to our ASIC approved External Dispute Resolution (EDR) provider, Australian Financial Complaints Authority (AFCA). You may also choose to contact them yourself at:
Postal: GPO Box 3, Melbourne, VIC, 3001
Phone: 1800 931 678
Fax: (03) 9613 6399
Email: info@afca.org.au
www.afca.org.au
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 request.
Please note that before contacting AFCA you must have gone through our IDR process. If you fail to do so, the matter will be referred to us to resolve in the first instance.
Contacting Us
You can contact us to find out more information about Red Tree Finance in the following ways:
Contact us by phone
Phone: (02) 9044 5633
Contact us by email
applications@redtreefinance.com.au
Contact us by mail
GPO Box 3220, Sydney NSW 2001
Visit our website
www.redtreefinance.com.au