Money 4 you payday loans

money 4 you payday loans

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Non-Payment

As with all loans there are financial implications for non-payment. The charges will depend on which loan option that you choose:

Finance and Loans Direct Pty Ltd: Contact Finance and Loans Direct Pty Ltd by emailing info@fldirect.com.au for more information

Teleloans Pty Ltd – Loan under the National Consumer Credit Protection Act: Teleloans charges a Dishonour Fee of $59.00 as well as an Arrears fee of $7.50 per day until the loan is brought back up to date.

Teleloans Pty Ltd – Guaranteed and Managed Loan: Teleloans charges a dishonour fee of $49, 1st dishonour letter fee of $30, 2nd dishonour letter fee of $50 and a 3rd dishonour letter fee of $50. Additional fees are applicable once the debt is handed over to and external debt collector, these are a collections tracking fee of $50 and a Investigator/Hand over Fee of $175 (plus legal fees). See below for Teleloans collection practices.

Collection Practices

The collections practices that Teleloans will follow depends on the loan option that you choose:

Finance and Loans Direct Pty Ltd: Contact Finance and Loans Direct Pty Ltd by emailing info@fldirect.com.au for more information

Teleloans Pty Ltd – Loan under the National Consumer Credit Protection Act: Teleloans will use all reasonable means to contact you if your loan is in arrears. If your loan is not brought back up to date the debt will be handed over to an external debt collector, Australian Receivables Limited.

Teleloans Pty

Ltd – Guaranteed and Managed Loan: The Teleloans internal collections department will attempt to contact you directly by way of phone calls, text messages, emails and letters after each dishonoured payment. If we are unable to recover the funds and after 3 dishonoured payments in a row, the debt will be handed over to an external debt collector, Australian Receivables Limited.

Credit Scores Impact

The impact on your Credit Score depends on the loan option that you choose:

Finance and Loans Direct Pty Ltd: Contact Finance and Loans Direct Pty Ltd by emailing info@fldirect.com.au for more information.

Teleloans Pty Ltd – Loan under the National Consumer Credit Protection Act: Under the National Consumer Credit Protection Act, if you choose this option, we are required to do a credit history check on you. This is so that we can fulfill the responsible lending requirements of the act.

Teleloans Pty Ltd – Guaranteed and Managed Loan: If you choose to use the Teleloans Guaranteed and Managed Loan service, we will not do a credit history check on you. Further to this, Teleloans will not register a default on your credit rating.

Regardless of the option you choose, we do not offer refinancing or renewal options.

However you can reapply if in the future one of our products will help you.

If you do wish to borrow again, simply click the existing client link at the top of this page. From there you can reapply for another loan.

Source: teleloans.com.au

Category: Payday loans

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