Your Rights as a Borrower Under Australian Law
By Sunshine Loans
Learn your key rights as a borrower in Australia: before you sign a credit contract, while you make repayments and if your circumstances change.
Australian Consumer Credit Protections
If you borrow money in Australia, several laws and regulations are designed to protect you. Understanding your rights helps you borrow confidently.
Key Protections Under the NCCP Act
The National Consumer Credit Protection Act gives you the right to:
- Receive a Credit Guide before entering a contract
- Request a copy of your suitability assessment
- Apply for hardship variations if your circumstances change
- Lodge complaints with the Australian Financial Complaints Authority (AFCA)
The Australian Financial Complaints Authority (AFCA)
AFCA is a free, independent dispute resolution service for consumers. If you have an unresolved complaint about a credit provider, you can contact AFCA at afca.org.au or by calling 1800 931 678.
Privacy Rights
Under the Privacy Act 1988, you have rights regarding how your personal information is collected, used, and disclosed. You can request access to the information a credit provider holds about you.
General information only; not personal financial or legal advice. Consider your circumstances and seek independent advice where needed.