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.
Personal loans
Personal loans
Stay afloat financially and avoid swimming with the loan sharks.
Articles
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.
How to protect your credit record
You can damage your credit record without knowing it, even if you pay your bills on time and don't have a lot of debt.
Radio Rentals to pay $20m for bad consumer leases
More than 250,000 leases will be refunded.
Good Money shopfronts to combat bad debt
Nonprofit microfinance company sets up shop on high streets to lure customers away from dodgy debt dealers.
Best car loans
There are some great interest rates on offer for car loans at the moment, especially from credit unions.
Payday lender Nimble forced to refund customers $1.5 million
29 March 2016 | ASIC investigation finds Nimble breached responsible lending laws with more than 700 customers.
Consumers favouring personal loans and credit cards over mortgages
Data reflects stronger retail market, softer mortgage market over holiday season.
Peer-to-peer lending
We weigh up the benefits and risks of this new style of lending.
Payday lender The Cash Store slapped with record penalty
Over 80 stores and millions in loans prior to liquidation.
Payday lenders still cashing in with sky-high fees
Are the government's new payday loan restrictions enough to keep short-term borrowers out of trouble?
Damaging cost of consumer leases like Radio Rentals
Why consumer advocacy groups are banding together against consumer leases and payday loans.
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