E-learning - Small Amount Credit Contract

IMPORTANT NOTES:

To satisfy your professional obligations – and to be awarded points for attendance - you are required to participate in the entire session which includes the following componants: Pre-reading (30 mins), Webinar (1.5hr) & Written response (1hr)

You will be awarded your certificate of attendance on completion of the activity. This is also a great opportunity to review your professional obligations under our Code of Ethics.

DESCRIPTION & METHOD:

The ‘Small Amount Credit Contracts (payday loans) ’ SPDP is made up of three sections:

Part 1: Pre-session reading
Part 2: Webinar
Part 3: Written response

Work through these in order. Once you have completed Part 3, the written response and clicked submit you’ll receive a confirmation of completion.

*You are eligibile for 2 CPD points on completion of this session in alignment with the National Standards

SURNAME*

FIRST NAME*

PHONE NUMBER*

EMAIL ADDRESS*

POSITION*

AGENCY OR INSTITUTION *

FCRC MEMBERSHIP*

Part 1: Pre-session reading

Please download and read through the following documents before commencing the webinar as these will be referred to throughout part 2.

Payday Loans Checklist

Cash Converters Guide

Payday Loans Guide

Part 2: Webinar (Origionally streamed 21/6/2017)

Once you've watched the entire webinar you are then able to move on to the final part of this session

Part 3: Written response

This is the written response component of the session. The aim of this activity is to help you apply the knowledge you learned and provide context.

The task includes reading through the below two case studies followed by questions on the content and issues discussed.

Please answer all of the questions. Once you click the 'Submit' button below FCRC will be notified that you've completed this component of the CPD

Supporting documents for this section are found HERE

Case Study 1:

You have an appointment with a 32 year old, single woman called Felicity. Felicity was working as a receptionist up until a year ago. As well as being on a low income, Felicity has been addicted to gambling since her early twenties. She has always struggled with her bills and debts. She now receives Centrelink benefits.
As you talk through her financial situation with her she tells you she generally relies on QuickFastLoans to get by. If she falls behind on bills or needs some quick money to gamble, she goes into their store, which is just across the road from her local pokies joint. She says she has been doing this regularly for the past 2 years and always pays on time because they direct debit the money from her account but then she falls behind on other bills, forcing her to go back for more money from them.

1. What further information / documentation do you need to get?.*

2. Where do you get these?*

3. What questions do you need to be asking Felicity?*

4. What information do you need to be looking for in the documents you get?*

5. In talking to Felicity you find out that sometimes she would pawn her jewelry to get money through QuickFastLoans and sometimes they would just give her the money without requiring her to pawn her goods. What is the significance of this?*

6. What are some of the relevant facts that would go into a letter of complaint to the lender?*

Case Study 2:

Steph has been referred to you by her family violence worker. She is struggling financially after leaving her violent husband.

While talking to her you discover she has been relying on pay day loans for the past 18 months to try and make ends meet. She tells you she struggles with making the repayments and paying all her other bills. You write to the lender and obtain Steph’s loan contracts.

1. Are the loans small amount credit contracts and how can you tell this?*

2. Do the charges under the loans come within the cost cap under the National Consumer Credit Protection Act?*

3. What do the loan contracts say about Steph’s purpose in getting the loans?*

4. Is there anything in the loan contracts or loan assessments that concern you?*

5. Are there particular documents missing from what the lender has sent you that it should have?*

6. How would the missing documents help you assess whether or not the loans were suitable?*

E-learning - Small Amount Credit Contract

Participant Details