What is Financial Choices?
We offer you small loans with NO interest or fees to repay Payday Lending, Pawn Brokers or rent/buy situations. We can also help with meeting your car registration bill. Your loan will be over a 6 to 12 month term and your repayments will automatically be deducted from your Centrelink benefits.
A payday loan is a small amount of money you borrow until your next pay day. They have high establishment fees and interest rates so you end up paying a high cost for the loan.
The alternative small loan, secured by handing over something of value as security, commonly called Pawn Broking, is not only just as expensive but can incur ongoing monthly interest and fees until you pay back the loan or relinquish any hope of getting your property back. Pawn Brokers have always been the financier of last choice.
We can also save you from being caught up in rent/buy situations. These type of contracts can cost three times the value of the item over the time of the contract. Also if Financial Choices payout the contract you may be able to replace “near new” goods with new goods, at a similar or smaller repayment per fortnight. This is with a no interest loan over one year instead of having to pay rent for three years.
Loans are Not approved for:
Electricity, gas or telephone bills.
Bond and rent money. Rent arrears.
Cheques payable to the loan recipient.
Cheques to a third party for a private sale.