Credit and debt

Credit is money you borrow from a financial institution like a bank or credit union, to spend the way you want. However, credit isn’t your personal money tree growing in the backyard. Any credit you use is a debt that must be paid back to the credit provider – usually with extra costs on top of the amount you borrowed

Organisation Address: 2/66-70 Collins St, Hobart TAS 7000

Phone: 1300 300 630

Web Address: https://www.moneysmart.gov.au/life-events-and-you/under-25s/credit-and-debt

Link Owner: Australian Securities & Investments Commission

Location

What is debt? How do you get it? What can be done?

A debt is created when one person owes money to another. The person who owes money is called a debtor; the person to whom money is owed is called a creditor. There are many ways of getting into debt.

Organisation Address: 166 Macquarie Street, Hobart, TAS, 7000, Australia

Phone: (03) 6223 2500

Web Address: https://www.hobartlegal.org.au/handbook/consumers-money-and-debts/debt-2/what-is-debt-how-do-you-get-it-what-can-be-done/

Link Owner: Hobart Community Legal Service Inc

Location

Debt Collectors

With the new Consumer Protection legislation, which came into effect on 1 January 2011, the Debt Collection Guideline for collectors and creditors is under review for republication, due to changes in the protections available under legislation. It is currently available online, but may change in the future. It is not reasonable to frighten, intimidate, harass, demoralise, exhaust, or embarrass the debtor. Consumer legislation

Phone: (03) 6223 2500

Web Address: https://www.hobartlegal.org.au/handbook/consumers-money-and-debts/debt-2/debt-collectors/

Link Owner: Hobart Community Legal Service Inc