Motor Finance Wizard: how to make a free complaint to the Credit and Investments Ombudsman
Use this fact sheet if you:
- want to make a free complaint about Motor Finance Wizard to the Credit and Investments Ombudsman (CIO)
This factsheet should be read along with our related factsheets:
The Credit and Investments Ombudsman is a free dispute resolution service
The Credit and Investments Ombudsman provides a dispute resolution service for complaints against its members, including Motor Finance Wizard. The service is free of charge to consumers and can be used by a consumer without legal representation.
If you have difficulty making a complaint
If you have any difficulty putting your complaint in writing, don’t give up! The Credit and Investments Ombudsman’s Rules say that it will help you prepare your complaint if you have any difficulty in presenting it. In doing so, CIO will not be ‘taking sides’ or providing you with legal or financial advice, but will simply help you present your complaint as clearly and concisely as possible.
Consumer Action Law Centre can provide legal advice and assistance to draft your complaint. Contact details are below.
Step 1: Make a complaint to Motor Finance Wizard
Generally CIO will only deal with a complaint if you have first tried to resolve the complaint with Motor Finance Wizard.
Your first action should be to write a letter to Motor Finance Wizard explaining why you are unhappy and what you want to resolve the dispute. A simple option is to prepare a Complaint to CIO and send that to Motor Finance Wizard first. You can use this sample complaint to the Credit and Investment Ombudsman regarding Motor Finance Wizard as a guide. Make sure to adapt this letter to explain your circumstances.
If you have already made a complaint to Motor Finance Wizard, and it has not been resolved within 45 days, you can make a complaint directly to CIO.
Step 2: See what Motor Finance Wizard says – the power is in your hands
If you don’t get what you want after making first contact with Motor Finance Wizard don’t be put off. You don’t have to accept an offer if you are not happy with it. CIO has the power to investigate, assess and give a recommendation about an appropriate outcome and can make a determination which is binding on Motor Finance Wizard.
We suggest that you persist. It is unlikely that Motor Finance Wizard will offer you what you want in the first instance (or at all).
Step 3: Complain to CIO
Complain to CIO if your dispute is not resolved within 45 days, Motor Finance Wizard does not respond within 45 days or if you are not happy with the response you get from Motor Finance Wizard.
Completing the sample letter
If you use our sample letter , you will need to set out all of the reasons you are unhappy with Motor Finance Wizard and what you want to resolve the dispute.
The sample letter is a guide only and will not necessarily cover all the complaints you might have. If you think any of the sections in the sample letter might apply to you, give details where suggested. It is important that the information you provide is correct and that you delete any sections which are not applicable to you.
Complaining to the regulators and your local MP
The role of the “regulator” government agencies is to “police” the practices of industry. If you want to let a regulator know about your dispute with Motor Finance Wizard you can send your complaint to the Australian Securities and Investments Commission and Consumer Affairs Victoria. You can also write to your local MP to let him or her know about the dispute.
The Australian Securities and Investment Commission (ASIC) does not have a consumer dispute resolution function. It does not conciliate or advocate for individual consumers.
A complaint to a regulator will help the regulator monitor industry practices and, if there are a number of similar complaints, it might be used to take enforcement action against the a financial services provider like Motor Finance Wizard.
There are two benefits of complaining to a regulator:
- It can help the regulator take action to stop unfair practices and lead to improved behaviour by financial services providers, debt collectors and creditors in the future;
- If you send a copy of your complaint to the party you are in dispute with,. it sometimes encourages them to resolve your complaint.
This fact sheet is for information purposes only and should not be relied upon as legal advice. This information applies only in Victoria and was updated on 6 June 2017
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