AUSTRALIAN FINANCIAL LEGAL RESOURCE OPTIONS
Consumers 1300 78 08 08
Telephone 03 9613 7366
Fax 03 9613 6399
Financial Ombudsman Service Limited
GPO Box 3
Melbourne VIC 3001
The Credit Ombudsman Service Limited (COSL) is an independent and impartial third party that will review your dispute free of charge. However, you must give the other party the opportunity to resolve your dispute before COSL can investigate the matter.
Mail: Case Management Team, Credit Ombudsman Service Limited, PO Box A252, Sydney South NSW 1235
Telephone: 02 9273 8440
Facsimile: 02 9273 8400 or 1800 138 422
SCHEME FOR COMPENSATION
What is the CDDA Scheme?
The CDDA Scheme allows Government agencies to compensate persons who have experienced detriment as a result of an agency’s defective actions or inaction.
The CDDA Scheme is available to provide a remedy for all Financial Management and Accountability Act 1997 agencies.
Payments made under the CDDA Scheme are discretionary. This means there is no automatic entitlement to a payment.
- Detriment Caused by Defective Administration
If you are experiencing financial hardship legislation provides consumers with certain allowances/protection.
Refer to these organisations and various legislative publications and for further information:
The National Consumer Credit Protection Act and The National Consumer Credit Protection Reform Package
Bankruptcy Act 1996
Where a customer declares bankruptcy, debt becomes “Statute Barred”. Depending on the customer’s financial situation, payments against a debt may be required under the terms of the Bankruptcy Act. Responsibility to determine whether payments are required rests with the Trustee of the bankruptcy. The debt is notified to Insolvency and Trustee Service Australia in the event payments become necessary under the Act. Subsequent discharge of the bankruptcy relieves the customer of the legal liability to repay the debt, but it does not expunge the debt as if it had never existed.
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