If it`s difficult to track your payments, ask for a change to the agreement, for example. B to pay less each month. This is called the emergency request. The CCCFA also limits the amount of lenders and mobile merchants (e.g.B. truck stores) who can collect interest and fees in case of expensive loans: at the beginning of a loan, you have five working days to terminate the credit agreement in writing or electronically. This is called a cooling-off period. Whether something is against is a court of law. The CCCFA covers a number of transactions for which money is loaned for personal use, including: A late payment rate is a higher interest rate, calculated if you miss payments or exceed your credit limit. There are certain things that lenders need to tell you when you lend money.

This is called information disclosure. Interest does not have to be calculated in advance. It is normally calculated by applying the daily interest rate to the daily unpaid credit. AfterPay, PartPay and other “Buy Now, Pay Later” credit agreements are currently not covered by the CCCFA. If you think your lender acted unfairly, try to resolve it with them first. All lenders must be members of a dispute resolution system under the Financial Service Providers (Registration and Dispute Resolution). These systems are independent, which means they must be fair in the settlement of disputes. Saturdays, Sundays and public holidays are not working days. The CCCFA requires lenders to act responsibly at all times.