Rapid Loans Pty Ltd’s Credit Guide

 As an intending borrower, we provide you with the following Credit Guide, which must be provided to you in writing, in accordance with Section 126 of the National Consumer Credit Protection Act 2009 (Cth).

Licensee’s name, contact details and Australian Credit Licence Number (being a credit provider):

Rapid Loans Pty Ltd ACN 103 660 546
1924 Gold Coast Highway, Miami QLD 4220
PO Box 429, Miami QLD 4220
Ph: 1300 727 431
Fax: 1300 765 608
Email: customer-service@rapidloans.com.au
Australian Credit Licence Number: 388847

Licensee’s procedure for resolving disputes:

In the event of any complaint, dispute or hardship issue, please first contact our Internal Dispute Resolution (IDR) department on the contact details below. All disputes or hardship complaints to our IDR department are treated seriously and promptly and this service is offered at no charge to you.

Internal Dispute Resolution contact details:

IDR Manager, PO Box 429 Miami QLD 4220; Ph: 1300 727 431; Fax: 1300 765 608; Email: IDR@rapidloans.com.au

External Dispute Resolution procedure:

In the unlikely event that your complaint or dispute is not settled with our IDR department to your satisfaction, you may then contact our External Dispute Resolution (EDR) organisation as set out below.

External Dispute Resolution contact details:

Australian Financial Complaints Authority, or AFCA, www.afca.org.au; GPO Box 3, Melbourne VIC 3001; Ph: 1800 931 678; Email: info@afca.org.au

Prohibition on entering, or increasing the credit limit of, unsuitable credit contracts:

  • Under Section 133 of the National Consumer Credit Protection Act 2009 (Cth), we are prohibited from entering a credit contract or increasing the credit limit if our assessment is that it would be unsuitable for the consumer, which is assessed if, at the time the contract is entered into or the credit limit is increased:
  1. a) it is likely that the consumer will be unable to comply with the consumer’s financial obligations under the contract, or could only comply with substantial hardship; or
  2. b) the contract does not meet the consumer’s requirements or objectives; or
  3. c) if the regulations prescribe circumstances in which a credit contract is unsuitable, those circumstances apply to the contract.
  • Under Sections 128, 129 and 130 of the National Consumer Credit Protection Act 2009 (Cth), we are obliged to assess if the credit contract a consumer seeks is unsuitable.

This process involves us, as a credit provider, making reasonable enquiries about the consumer’s requirements and objectives for the credit contract or credit limit increase. We must also make reasonable inquiries about the consumer’s financial situation and take reasonable steps to verify this information.

Copy of assessment:

  • Under Section 132 of the National Consumer Credit Protection Act 2009 (Cth), if the consumer requests a copy of our assessment, we are obliged to provide a copy within the following time frames:
  1. a) before the credit contract is entered into – as soon as possible after we receive your request;
  2. b) within 2 years of entering into the credit contract – within 7 business days after we receive your request; and
  3. c) between 2 years and 7 years of entering into the credit contract – within 21 business days after we receive your request.

 

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Katrina, Redan

When it came time to move into a new property, I knew if I saw something I liked, I’d need to come up with the money for a bond very quickly. So when I found my ideal property, I also found Rapid Loans online and it was an even quicker process to get the money I needed for the bond. I’d never borrowed money online before, but if you need cash quickly, I’d recommend Rapid Loans as your first click.

Christina, Mawson Lakes

I needed some money to pay off two smaller loans and part fund a family trip to the Philippines. I was blown away by how fast and efficient Rapid Loans was, always keeping me in the loop during the process and making me feel like I was their only client. A big thank you to Rapid Loans for their excellent service

Kim, Caloundra

We got to the stage where one car was just not enough for us with everything we needed to do during the week and on weekends. So I applied for loan with Rapid Loans to buy a second car and I couldn’t believe how easy and simple it was to secure the funds we needed. Our repayments are all structured and we know exactly how much we need to pay off and now we have the second car we desperately needed. Would I recommend Rapid Loans to friends or family? Well I already have!

Alex, Sunshine West

I had a few unexpected bills to pay off and I needed a bit of extra cash fast. I couldn’t believe how quick the whole process was with Rapid Loans – from applying for some extra cash to actually getting it in my bank account. Now I can pay off my unexpected bills in my own time, knowing exactly how much my repayments are

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