The provision of credit plays an important part in our modern lives. Whether supplying us with credit cards, lending us money to buy a car or a house, or supplying a product or service prior to receiving payment (e.g. electricity, phone), many of us rely on credit to acquire the things we need in our everyday lives.

This section provides information that is useful to be aware of when dealing with the credit industry, including what information should be included in a credit contract; what facts the credit provider must disclose to a borrower before a credit contract is entered into; and information about personal credit files and credit reporting.

Contributor

Catherine Miller

Solicitor, Consumer Action Law Centre

National credit law reform

Between 1 July 2010 and 1 July 2013, consumer credit law in Australia underwent sweeping reform. In this chapter, we have noted when particular amendments and provisions have commenced.

Further information about amendments can be obtained by visiting https://asic.gov.au/credit or by con­tacting the Consumer Action Law Centre (see ‘Contacts’ at the end of this chapter).

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