Make It Mine Finance Pty Ltd (A.C.N. 130 102 411/ ACL 402033)

 

Information Statement about your Statutory Rights and Obligations

 

Things you should know about your proposed credit contract

                This statement tells you about some of the rights and obligations of yourself and Make It Mine Finance Pty Ltd. It does not state the terms and conditions of your contract.

                If you have any concerns about your contract, contact the Make It Mine Finance Pty Ltd and, if you still have concerns, Make It Mine Finance Pty Ltd’s external dispute resolution scheme, the Credit Ombudsman Service Limited or get legal advice.

The contract

        1      How can I get details of my proposed credit contract?

                Make It Mine Finance Pty Ltd must give you a precontractual statement containing certain information about your contract. The precontractual statement, and this document, must be given to you before —

· your contract is entered into; or

· you make an offer to enter into the contract;

                whichever happens first.

        2      How can I get a copy of the final contract?

                If the contract document is to be signed by you and returned to Make It Mine Finance Pty Ltd, you must be given a copy to keep. Also, Make It Mine Finance Pty Ltd must give you a copy of the final contract within 14 days after it is made. This rule does not, however, apply if Make It Mine Finance Pty Ltd has previously given you a copy of the contract document to keep.

                If you want another copy of your contract, write to Make It Mine Finance Pty Ltd and ask for one. Make It Mine Finance Pty Ltd may charge you a fee. Make It Mine Finance Pty Ltd has to give you a copy —

· within 14 days of your written request if the original contract came into existence 1 year or less before your request; or

· otherwise within 30 days of your written request.

        3      Can I terminate the contract?

                Yes. You can terminate the contract by writing to Make It Mine Finance Pty Ltd so long as —

· you have not obtained any credit under the contract; or

· a card or other means of obtaining credit given to you by Make It Mine Finance Pty Ltd has not been used to acquire goods or services for which credit is to be provided under the contract.

                However, you will still have to pay any fees or charges incurred before you terminated the contract.

        4      Can I pay my credit contract out early?

                Yes. Pay Make It Mine Finance Pty Ltd the amount required to pay out your credit contract on the day you wish to end your contract.

        5      How can I find out the pay out figure?

                You can write to Make It Mine Finance Pty Ltd at any time and ask for a statement of the pay out figure as at any date you specify. You can also ask for details of how the amount is made up.

                Make It Mine Finance Pty Ltd must give you the statement within 7 days after you give your request to the Make It Mine Finance Pty Ltd. You may be charged a fee for the statement.

        6      Will I pay less interest if I pay out my contract early?

                Yes. The interest you can be charged depends on the actual time money is owing. However, you may have to pay an early termination charge (if your contract permits Make It Mine Finance Pty Ltd to charge one) and other fees.

        7      Can my contract be changed by Make It Mine Finance Pty Ltd?

                Yes, but only if your contract says so.

        8      Will I be told in advance if Make It Mine Finance Pty Ltd is going to make a change in the contract?

                That depends on the type of change. For example —

· you get at least same day notice for a change to an annual percentage rate. That notice may be a written notice to you or a notice published in a newspaper.

· you get 20 days advance written notice for —

· a change in the way in which interest is calculated; or

· a change in credit fees and charges; or

· any other changes by Make It Mine Finance Pty Ltd;

                except where the change reduces what you have to pay or the change happens automatically under the contract.

        9      Is there anything I can do if I think that my contract is unjust?

                Yes. You should first talk to Make It Mine Finance Pty Ltd. Discuss the matter and see if you can come to some arrangement.

                If that is not successful, you may contact Make It Mine Finance Pty Ltd’s external dispute resolution scheme. External dispute resolution is a free service established to provide you with an independent mechanism to resolve specific complaints.  Make It Mine Finance Pty Ltd’s external dispute resolution provider is:

                        Credit Ombudsman Service Limited

                        Telephone:       1800 138 422

                        Fax:                 (02) 9273 8440

                        Internet:          www.cosl.com.au

                        Mail:    PO BOX A252

                                    Sydney South NSW 1235

               

                Alternatively, you can go to court. You may wish to get legal advice, for example from your community legal centre or Legal Aid.

                You can also contact ASIC, the regulator, for information on 1300 300 630 or through ASIC’s website at http://www.asic.gov.au.

Insurance

      10      Do I have to take out insurance?

                Make It Mine Finance Pty Ltd can insist you take out or pay the cost of types of insurance specifically allowed by law. These are compulsory third party personal injury insurance, mortgage indemnity insurance or insurance over property covered by any mortgage. Otherwise, you can decide if you want to take out insurance or not. If you take out insurance, the Make It Mine Finance Pty Ltd can not insist that you use any particular insurance company.

      11      Will I get details of my insurance cover?

                Yes, if you have taken out insurance over mortgaged property or consumer credit insurance and the premium is financed by Make It Mine Finance Pty Ltd. In that case the insurer must give you a copy of the policy within 14 days after the insurer has accepted the insurance proposal.

                Also, if you acquire an interest in any such insurance policy which is taken out by Make It Mine Finance Pty Ltd then, within 14 days of that happening, Make It Mine Finance Pty Ltd must ensure you have a written notice of the particulars of that insurance.

                You can always ask the insurer for details of your insurance contract. If you ask in writing, your insurer must give you a statement containing all the provisions of the contract.

      12      If the insurer does not accept my proposal, will I be told?

                Yes, if the insurance was to be financed by the credit contract. The insurer will inform you if the proposal is rejected

.

      13      In that case, what happens to the premiums?

                Make It Mine Finance Pty Ltd must give you a refund or credit unless the insurance is to be arranged with another insurer.

      14      What happens if my credit contract ends before any insurance contract over mortgaged property?

                You can end the insurance contract and get a proportionate rebate of any premium from the insurer.

General

      15      What do I do if I can not make a repayment?

                Get in touch with Make It Mine Finance Pty Ltd immediately. Discuss the matter and see if you can come to some arrangement. You can ask Make It Mine Finance Pty Ltd to change your contract in a number of ways —

· to extend the term of your contract and reduce payments; or

· to extend the term of your contract and delay payments for a set time; or

· to delay payments for a set time.

      16      What if Make It Mine Finance Pty Ltd and I can not agree on a suitable arrangement?

                If Make It Mine Finance Pty Ltd refuses your request to change the repayments, you can ask Make It Mine Finance Pty Ltd to review this decision if you think it is wrong.

                If Make It Mine Finance Pty Ltd still refuses your request you can complain to the external dispute resolution scheme that Make It Mine Finance Pty Ltd belongs to. Further details about this scheme are set out below in question 18.

      17      Can Make It Mine Finance Pty Ltd take action against me?

                Yes, if you are in default under your contract. But the law says that you can not be unduly harassed or threatened for repayments. If you think you are being unduly harassed or threatened, contact Make It Mine Finance Pty Ltd’s external dispute resolution scheme or ASIC, or get legal advice.

      18      Do I have any other rights and obligations?

                Yes. The law will give you other rights and obligations. You should also READ YOUR CONTRACT carefully.

                IF YOU HAVE ANY COMPLAINTS ABOUT YOUR CREDIT CONTRACT, OR WANT MORE INFORMATION, CONTACT Make It Mine Finance PTY LTD. YOU MUST ATTEMPT TO RESOLVE YOUR COMPLAINT WITH Make It Mine Finance PTY LTD BEFORE CONTACTING Make It Mine Finance PTY LTD’S EXTERNAL DISPUTE RESOLUTION SCHEME. IF YOU HAVE A COMPLAINT WHICH REMAINS UNRESOLVED AFTER SPEAKING TO Make It Mine Finance PTY LTD YOU CAN CONTACT Make It Mine Finance PTY LTD’S EXTERNAL DISPUTE RESOLUTION SCHEME OR GET LEGAL ADVICE.

                EXTERNAL DISPUTE RESOLUTION IS A FREE SERVICE ESTABLISHED TO PROVIDE YOU WITH AN INDEPENDENT MECHANISM TO RESOLVE SPECIFIC COMPLAINTS. Make It Mine Finance PTY LTD’S EXTERNAL DISPUTE RESOLUTION PROVIDER IS CREDIT OMBUDSMAN SERVICE LIMITED AND CAN BE CONTACTED AT

                TELEPHONE:      1800 138 422

                FAX:                      (02) 9273 8440

                INTERNET:         www.cosl.com.au

 

PLEASE KEEP THIS INFORMATION STATEMENT. YOU MAY WANT SOME INFORMATION FROM IT AT A LATER DATE.