Credit, loans and borrowing
Getting into debt is far easier than getting out of it. If you shop around and manage your loans, they won't make a mess of your finances.
FIDO's tips on budgeting and dealing with money problems
Read FIDO's tips on managing your money so that you spend less than you earn, and create spare cash to invest, meet unexpected expenses or save for something special.
People get into financial difficulties for all sorts of reasons. When things go wrong, take control of your situation. Read FIDO's tips on dealing with money problems
ASIC's role in credit and borrowing money
ASIC regulates the activities of firms that lend money to consumers, investors and small businesses.
This covers all forms of lending products (such as credit cards, business overdrafts, home loans, hire purchase agreements and guarantees) whether they are provided by banks, finance companies, credit unions, mortgage brokers or any other credit provider.
Among other things, we make sure that firms don't give misleading information about loans or other credit products when they advertise. We don't licence credit providers.
We also play an important referral role for borrowers who have a debt-related problem and need immediate help, for example, if you are having trouble meeting loan repayments, or you have a dispute about a credit account. In some cases we will refer you to relevant financial counsellors or community legal centres who deal in this area. Many consumer credit issues are dealt with under state and territory laws.
Also visit the credit code website at www.creditcode.gov.au 
FIDO Website: Printed 07/04/2009
