Where personal loan borrowers get caught out, what to do when you are declined or struggling, scams to avoid, and where to complain or get free help.
Most expensive personal loan problems are avoidable: applying to several lenders in a week, borrowing for longer than the purchase lasts, consolidating debts and then running the cards back up, or ignoring a repayment problem until the account defaults. These guides describe the common patterns and what to do instead.
Start with personal loan mistakes to avoid. Then read what to do if your application is declined, how to give a hardship notice under the National Credit Code, the risks of debt consolidation loans and how to spot personal loan scams. The complaints and free help guide lists AFCA, ASIC, Moneysmart, the National Debt Helpline (1800 007 007) and other official sources.
These guides are general information, not financial advice. If you are already behind on repayments, talk to a free financial counsellor before signing anything new.
Pitfalls, Complaints and Free Help
How to complain about a lender in Australia, internal dispute resolution timeframes, lodging a free AFCA complaint, reporting to ASIC and the OAIC, and where to get free financial counselling.
Pitfalls, Complaints and Free Help
A worked example of consolidating credit cards and loans into one personal loan, the risks of longer terms, fees, reopened cards and home loan top-ups, and safer alternatives.
Pitfalls, Complaints and Free Help
How to ask your lender for financial hardship help on a personal loan in Australia, what section 72 requires, the 21-day response timeframes, what to include and what to do if refused.
Pitfalls, Complaints and Free Help
The common reasons Australian lenders decline personal loan applications, how to find out why, free credit reports after refusal, fixing problems and safer next steps.
Pitfalls, Complaints and Free Help
The most common and costly personal loan mistakes Australians make, from multiple applications and long terms to add-on insurance and ignoring hardship, with practical fixes.
Pitfalls, Complaints and Free Help
How personal loan scams work in Australia, the warning signs of fake lenders and advance fee scams, how to check a credit licence, and what to do if you have been scammed.
