Before you borrow

Before you borrow money it is very important to work out if you can afford it.
It will take a period of time to repay the loan and
during that time your financial circumstances and priorities may change.

 Before you borrow you should:

 ü     Do a money plan or budget to assess your ability to pay and work out your priorities?

 ü     Consider whether you need or want it?

 ü     Shop around for the best deal?

 ü     Read the small print. What will it really cost? What risks are you taking?

 ü     Understand if the credit is secured or unsecured and what happens if you can’t pay?

ü     Get advice 

There are a lot of very useful fact sheets and brochures
to help you decide before you borrow.

For information on working out what you can afford.

The budget

What to consider?

What type of loan is it? Secured or unsecured?

 The Consumer Credit Legal Centre has produced
a range of useful fact sheets on credit and debt issues.

http://www.cclcnsw.org.au
Need a loan?
Easy Money or Debt Trap
Before you borrow
Getting a loan with someone else
Going Guarantor
Using finance and mortgage brokers
Your credit report
Line of credit loans and home loans with redraw

The Office of Fair Trading in NSW

has large range of good consumer brochures and fact sheets

Here are some of the things to look for:

Shopping wisely
Little black book of scams

Using a broker to obtain credit

Borrowing money

Buying a used car

Credit cards and 'interest free' deals
Door-to-door sales and telemarketing
Lay-bys information for consumers

Scams and how to avoid them

Australian Competition and Consumer Commission
has a range of consumer rights fact sheets.

Here are some of the things to look for:

Guarantees, warranties and refunds
Phones
Misleading conduct
Pricing
Internet shopping
Scams
Credit card surcharges and bank fees
Reward points and loyalty schemes

Disclaimer: The information contained on this web site is of a general nature. It is intended as a guide and you must not rely
 on the information contained on this website for legal purposes. If you have a legal problem you must seek independent legal
 advice from a qualified legal practitioner. To the extent permissible by law, the Lismore and District Financial Counselling
Service Inc. disclaims all liability for anything contained on or accessed via this site and any use you make of it.
Please note that some of the information on this website applies to residents of NSW Australia only.

Credits: Web content produced with funding from the Sugar Industry Reform Program.