Once a credit contract has been entered into and the funds have been advanced (or the goods or services supplied), the contract cannot generally be cancelled simply because the customer has changed their mind.
Depending on the customer's circumstances, the available options may include:
- Exercising any applicable statutory cooling-off or withdrawal rights (where available).
- Paying out the contract in full.
- Resolving the matter with the supplier if the enquiry relates to the goods or services purchased.
- Making a complaint if the customer believes the contract should not have been entered into.
Each request should be considered based on the customer's individual circumstances.
Important Information
- The finance contract and the purchase of the goods or services are separate legal arrangements.
- Returning goods to a supplier or making a warranty claim does not automatically cancel the credit contract.
- Cancelling a direct debit does not cancel the credit contract.
- If the customer believes the contract should not have been entered into, or that it was established incorrectly, they may request that the matter be reviewed or lodge a complaint.
- Customers experiencing financial difficulty should discuss the assistance available under the Financial Hardship Policy.
Frequently Asked Questions
Can I just cancel my contract?
Generally, no. Once the credit contract has commenced, it remains in force unless it is paid out, otherwise discharged, or brought to an end in accordance with its terms or applicable law.
If I return the goods, is my finance cancelled?
Not automatically. Returning goods does not itself terminate the credit contract. Any arrangements regarding the goods must be considered separately from the finance agreement.
What if the goods are faulty?
If your concern relates to the quality or operation of the goods, we can assist you through our Warranty & Faults process.
I can't afford the repayments anymore.
If you're experiencing financial difficulty, please let us know. We can discuss the financial hardship assistance that may be available.
