The responsibilities of the Borrower include ensuring loan repayments are made on time each month and advising Visa Loans of any changes to their financial situation likely to affect the ability to fund the outstanding loan.

Should the Borrower wish to alter their repayment arrangement in any way, the Borrower must contact Visa Loans at their earliest convenience. If this contact is not at least forty-eight (48) hours before the due date for processing a direct debit repayment, because of the necessary administration, it may not be possible to stop the transaction proceeding, and this may create a default which will incur a charge as per the loan contract.

The costs of a Visa Loan are set out in detail within your loan contract. The costs are calculated as follows:

Annual Cost Rate (interest)

The permitted annual cost rate, commonly called the “interest rate”, or “annual comparison rate”, is calculated on the unpaid (outstanding) daily balance of the loan amount, in accordance with Section 32B of the National Consumer Credit Protection Act 2009. In accordance with the formula in that section, the permitted annual cost rate can be no more than 48%.

This calculation may include the Application/Establishment fee, the balance of the principal and any unpaid unascertainable fee incurred to that date.

The loan is easily repaid as a once-a-month repayment will be deducted directly from your Australian bank account so you won’t need to worry.

Visa Loans Pty Ltd operates in accordance with Section 126 of the National Consumer Credit Protection Act 2009.

We are required to assess the suitability of the loan you have requested, under Sections 128, 129 and 133 of the National Consumer Credit Protection Act 2009. These Sections are concerned with whether or not the loan you seek is “unsuitable”.

Under Section 131, we are obliged to advise you that we will not participate in the arrangement of a loan for you, if that loan would be unsuitable and under Sections 128 and 133, we are obliged to refuse an increase in your credit limit if that would also be deemed unsuitable.

Visa Loans can lend anywhere from $5,000 to 20,000 AUD. Upon completion of your initial 482/400 migration loan Visa Loans can also offer discounted variable loan rates and amounts.

1. 1. A formal Letter of employment offer
   2. A photocopy of your passport
   3. A copy of your IMMI (482/400) Visa approval
   4. A completed Visa Loans application form.

You can contact Visa Loans if you need assistance in this area regarding any of the requirements.

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

If you want another copy of your contract, write to Visa Loans and ask for one, Visa Loans may charge you a fee.

Visa Loans must 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

Yes. You should first talk to Visa Loans. Discuss the matter and see if you can come to some arrangement. If that is unsuccessful, you may contact your Visa Loans’ external dispute resolution scheme. External dispute resolution is a free service established to provide you with an independent mechanism to resolve specific complaints. Your Visa Loans’ external dispute resolution provider is the Australian Financial Complaints Authority (AFCA). They can be contacted at Phone: 1800 931 678, Email: info@afca.org.au, Postal address: GPO Box 3, Melbourne VIC 3001, or go to: www.afca.org.au.

Alternatively, you can go to Court. You may seek 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.

Yes. Pay Visa Loans the amount required to pay out your credit contract on the day you wish to end your contract.