There are more ways than ever to borrow money, from peer-to-peer lending (potentially a good option) to payday loans (never a good option). Then you have the never-ending personal loan offers from the banks, which can leave you with that empty feeling if you're not careful. When you're in the market for some money, we'll help make sure you don't get taken for a ride.
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Stay afloat financially and avoid swimming with the loan sharks.
Articles
ACCC swoops on predatory online 'educators'
Competition watchdog fines Captain Cook College for exploiting VET FEE-HELP funding.
Car loan providers investigated after buyers left with lemon cars and mounting debt
Loans are being approved without proper checks and used cars are breaking down soon after purchase.
ASIC aims to put an end to Cigno as loan provider's legacy lives on
The corporate regulator says it's working to stop Cigno Australia's predatory lending models for good.
Buy now, pay later products like Afterpay finally regulated
Consumer protections that apply to credit products will now apply to BNPL providers such as Afterpay, Zip and Humm.
In the murky world of pawnbroking, the harms are well hidden
Consumer advocates say an inquiry into the industry is long overdue.
After her son's death, this mum wants to help young people seek financial help
When Libby's son died she discovered he owed thousands to different payday lenders.
Another predatory Cigno loan model banned for good
The ‘no upfront charge’ lending model has been shut down, freeing 150,000 Australians from further payments.
Proposed buy now, pay later reforms a partial solution
A coalition of advocates say draft legislation should do more to protect consumers.
Car loan provider Money3 facing irresponsible lending claims
Company targets low-income borrowers and charges exorbitant rates.
New rules coming for buy now, pay later products
Draft legislation announced to rein in BNPL providers, but does it go far enough?
Outback retailer stopped from causing financial harm to First Nations consumers
Urban Rampage had been using Centrelink's automatic deductions platform to sell goods to remote communities.
Financial counsellors sound the alarm about Afterpay Plus
The subscription platform uses Apple Pay, Google Pay or Samsung Pay to activate a loan, and cancellation is discouraged.
Cigno payday loan charging 800% declared illegal
People with these types of loans told to stop paying and seek a refund.
Australians pressured to take out BNPL loans they can't afford
Retailers are exploiting loopholes in lending laws to convince shoppers to take out large buy now, pay later loans.
Government announces 'balanced' BNPL reforms
Consumer groups and financial counsellors are cautiously optimistic about the long-awaited buy now, pay later reforms.
Op-ed: It's time to regulate the growing BNPL sector
More and more people are using buy now, pay later services, but regulation of the sector under the Credit Act is still lacking.
What can Australia learn from how other countries are regulating buy now, pay later?
Jurisdictions around the world are taking different approaches to regulating the booming buy now, pay later credit industry.
Zip Pay and Afterpay users say they're being charged for goods they'll never receive
Brosa customers who used these services say they continue to be charged for non-deliverable goods.
Banks and industry groups join the call to regulate BNPL
Banks, industry groups and others support full regulation of BNPL products under financial laws.
CHOICE calls on government to regulate buy now, pay later industry
In a joint submission, CHOICE and allies say the time has come to impose the Credit Act on self-regulated BNPL providers.
'Pay later' operators providing large loans without a credit licence
Elepay and Futurerent offer property owners huge lines of credit, and consumer advocates are sounding the alarm.
Free vs paid bankruptcy advice
A range of companies offer bankruptcy advice for a fee, but is their advice trustworthy?
Struggling with buy now, pay later debt? Here's what to do
The repayments can easily become overwhelming. We explain how to start getting your finances back on track.
Buy now, pay later failing family violence victims
Support workers advocating for victims of family violence say undertrained BNPL providers are making inappropriate requests.
Fintech loans and payments
New financial technologies are gaining ground in Australia, but are they a better option than traditional banking?
Your personal credit score: What you need to know
Is your personal credit score accurate?
New government commits to BNPL regulation
CHOICE and consumer groups welcome the Financial Services Minister's commitment to regulate the buy now, pay later sector.
Coalition of consumer groups calls for the next Parliament to regulate BNPL
CHOICE joins more than 100 organisations calling for a commitment to reining in the unregulated buy now, pay later sector.
Car dealers using buy now, pay later to get around responsible lending limits
CHOICE joins WA consumer groups to express alarm at reports of car dealers arranging BNPL loans for warranties.
Will using Afterpay affect your ability to get a home loan?
Afterpay users have been asked to close accounts to get a home loan, as BNPL providers expand into essential services.
Indigenous students still struggling with debt legacy from education loan scandal
The laptops for education scandal has left some students with an ongoing debt legacy even years later.
Financial giants enter the buy now, pay later market
But are the new BNPL services from Commonwealth Bank and PayPal any better for consumers?
Are there better options than buy now, pay later?
BNPL services might seem fast and attractive to many consumers, but there are better options out there.
Does buy now, pay later need tighter regulation?
Buy now, pay later (BNPL) providers say their new self-regulation code of conduct is sufficient. We’re not so sure.
Buy now, pay later: The modern debt trap
Most people use BNPL services such as Afterpay and Zip with few issues, but for some the easy access to credit can lead to financial distress.
Are wage advances the new payday loans?
Profiting from people living pay cheque to pay cheque may put Beforepay and MyPayNow at odds with their lofty marketing.
CHOICE slams government wind-back of responsible lending laws
Removing credit protections will cause harm to people and the economy.
More than one in 10 Australians using buy now, pay later, just to get by
The results of our latest Consumer Pulse survey show that BNPL platforms are not just for life’s little extras’.
Predatory lender Cigno faces second ASIC intervention
ASIC used its intervention powers to ban Cigno's lending model last year. Now it's looking to ban Cigno's revamped model, too.
The risks of using Afterpay and ZipPay to fund Christmas
Financial Rights Legal Centre warns against 'buy now, pay later' loans.
CHOICE stands up to payday loan bullies
We join the call for more government action to protect Australians from dodgy payday lenders.
Why you should avoid payday loans
Fast-fix payday loans may seem like a good idea, but dodgy lenders are taking advantage of Australians.
The trouble with using 'buy now, pay later' services like Afterpay and ZipPay
They may help if you're cash-strapped, but can pave the way to financial distress.
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