b) if you are unable to meet your repayments now and in the future; c) whether the hardship is genuine and being caused by factors outside your control; and d) our commercial considerations. We will tell you about the relevant National Credit Code provisions if they apply 181. We will tell you about the hardship provisions of the National Credit Code if they apply to you. We will not require you to access your superannuation 182. We will not require you to access your superannuation to pay any amount you owe us under a Loan (unless you are borrowing for a selfmanaged superannuation fund). However, you may wish to discuss this option with a financial counsellor. You can also find out more about this from the Department of Human Services, see www.servicesaustralia.gov.au Other people who can assist you 183. If you ask us to and where appropriate, we will refer you to financial counselling organisations that may be able to help you. We may also recommend on our own initiative that you seek independent advice from a financial counsellor. We will tell you about our decision in writing 184. We will tell you in writing: a) whether we will provide you with help in relation to your Financial Difficulty; and b) the reasons for our decision. 185. If we agree to provide you with help in the form of changes to your agreement with us, then we will tell you in writing about the main details of the arrangements, including: a) the repayments you need to make under the proposed new arrangement; b) what will happen at the end of the new arrangement; and c) whether you accepting the proposed new arrangement will have any adverse consequences in relation to Banking Services or your credit history (for example, an entry in your credit report or cancellation of a Banking Service). This does not apply to minor individual instances of help we provide — for example: deferrals, refunds or fee waivers. When you are in Default 186. If you are a Small Business and you are in Default, we will tell you if we report any payment Default of yours under your Loan to a credit reporting body. We will also tell you that you may be able to independently obtain a copy of your report directly from a credit reporting body, but will let you know that not all credit reporting bodies may offer such reports and that credit reporting bodies may charge fees for accessing reports. When we are recovering a debt We will comply with debt collection guidelines 187. We will comply with the following guidelines in relation to debt collection: a) the ACCC’s and ASIC’s Debt Collection Guideline: for Collectors and Creditors; and b) the Code of Operation: Recovery of Debts from Department of Human Services Income Support Payments or Department of Veterans’ Affairs Payments. 188. If we sell a debt to another party, we will: a) only choose a party that has agreed to comply with the above guidelines; b) have processes in place to monitor how the buyer is undertaking their collection activities to recover an unsecured debt; and c) require that the buyer consults with us prior to commencing bankruptcy or insolvency proceedings to recover an unsecured debt. What we will tell you if we sell your debt to another party and we will not be your contact 189. If we sell your debt to another party, and you will be obliged to pay the debt to that other party, and we will no longer be your contact, we will write to you to let you know and to explain: a) that we have sold your debt; and b) who we have sold it to. We will not sell debt when we are considering your financial situation 190. We will not sell your debt to anyone else if: a) we are actively considering your financial situation under either: i) paragraph 175 of this Code; or ii) the hardship variation provisions of the National Credit Code; 34 | ausbanking.org.au
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