We want to facilitate a system where customers can acquire goods and service that they want or need in the short term and can facilitate payment for those goods or service after they have acquired the purchase.
We want to provide this "credit" to the customer in what is essentially a "payment plan", you get the goods or service to enjoy now and you pay for it in instalments over time. As we are a credit representative of an Australia Credit License we are able to a facilitate this service. Merchants and individual business can not do this unless they have a credit licence!
Now not all merchants will want to participate in this service but we are continually negotiating with new merchants.
What we do require is that we have to make sure that you, the customer, understand the arrangements you are entering into and that those arrangements are not going to out hardships on you under responsible lending practice.
Simply put we are ethical!
You will have to pay an administration fee for the work we do to set this all up and mostly we charge little or no interest but you do have to pay a "deposit" so that the merchants can cove some of there costs of providing the service.
You will still have a debt to the merchant and if you default you will be subject to the same legal implications if you were to default on any debt. You have to think about this before going ahead with this arrangement.
We are different to an 'After-pay" arrangement in that we will always act under responsible lending practice, so you are less likely to get into problems.
Did you know that in an an 'After-pay" arrangement, they charges fines if the customer fails to make payments (a A$10 late fee, and a further A$7 after seven days). If the customer still does not pay they they take legal proceeding against you.
In 2016-17, "After-pay" made A$6.1 million in late fees and had A$3.3 million in bad debt, so it made much more from people failing to pay that of people not actually paying, how is that fair? For the customers that paid a late fee that action put their "credit checks" at risk and this could lead to bad debt and poor credit ratings.
Aftercare is not for everyone.
This does not happen as we work with people in hardship and actions for recovery is a last resort, but will be taken is required.
Call us on 130948454 to discuss your options.