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Spark Finance Loan Credit Guide

Last updated: December 2023 | ACN 632 194 855 | ACL 520712

We are Spark Finance Group Pty Ltd (Spark Finance) (ACN 632 194 855) and Australian Credit Licence 520712 holder. We are licensed to provide loans under the National Consumer Credit Protection Act 2009 (Cth) (NCCP Act). This document provides some information about the loans provided by us. If you are unsure about anything in relation to your student loan application or the loan agreement document, you should seek external independent advice.

Our Responsible Lending Obligations

As a part of our responsible lending obligations, we are required to not enter into a credit contract or increase the credit limit with you if the contract will be unsuitable. A contract will be deemed unsuitable if:

It is likely that you will be unable to comply with the financial obligations under the contract or you could only comply with the financial obligations under the contract with substantial hardship
The contract does not meet your requirements or objectives

In determining whether a contract will be deemed unsuitable, we will:

Make reasonable enquiries about your requirements and objectives for the applied credit
Make reasonable enquiries about your financial situation
Take reasonable steps to verify that financial situation
Obtain and review your bank account statements

Providing a Copy of Assessment

If you request a copy of our Assessment of Unsuitability for your credit contract:

Before contract: We must give you a written copy of the assessment before entering the contract
Within 2 years: From the credit day, we must give you a written copy of the assessment within 7 business days of your request
2-7 years: After two years from the credit date but within 7 years, we must give you a written copy of the assessment within 21 business days

Our Internal Dispute Resolution Procedure

If you are not fully satisfied with the service we have provided you, you can notify our complaints officer at:

Email: info@sparkfinance.com.au

In your complaint, you should provide your preferred contact details and clearly outline the nature and details of your complaint and our complaints officer will be in touch with you.

Our External Dispute Resolution Scheme

If you are not satisfied with the outcome from our internal dispute resolution procedures or we have not responded within 21 calendar days, you can refer the matter to the independent external dispute resolution scheme of which we are a member:

Australian Financial Complaints Authority

Phone: 1800 931 678
Mail: GPO Box 3, MELBOURNE VIC 3001
Email: info@afca.org.au
Website: www.afca.org.au

Contact Us

Should you have any questions regarding any of the information found in this document, or have any other enquiries, please feel free to contact us. Further information is also available in our Privacy Policy and on our website.