What is responsible lending?

Come the holiday season every year, we tend to hear the words ‘responsible driving’ and ‘responsible drinking’ used quite a lot. But what about ‘responsible lending’? If you’re like thousands of other Australians, the chances are you’ll find yourself a little short of cash at the end of the calendar year. A family holiday, Christmas presents and end of year home renovations can rack up quite a bill and you might consider turning to a credit assistance provider to make ends meet. But not all credit assistance providers are created equal. The key to knowing the difference lies in the concept of ‘responsible lending’.

So, what is responsible lending and what does it mean for Australians?

Responsible lending refers to the lending policies and practices of financial institutions that take steps to ensure that clients are able to meet their financial responsibilities and avoid falling into bad debt. The idea is that a responsible credit assistance provider will only lend affordable amounts to their customers. They will be open and transparent about fees and actively encourage their customers to discuss their financial difficulties in order to best prepare them to meet their credit obligations.

The goal is not only to establish a long term relationship with a credit assistance provider, but also to ensure that lines of credit are manageable and contribute positively to the customer’s credit history. By dealing exclusively with credit assistance providers that operate under responsible lending practices, you are ensuring that you maintain long standing patterns of on-time repayments and thus establish a positive credit score for the future.

Cash at Call differentiates itself from other lenders by emphasising the importance of responsible lending practices and by offering sustainable financial options for individuals and businesses across Australia. By offering only realistic and responsible leading options, Cash at Call ensures borrowers are able to meet their repayment commitments and thus maintain a long standing credit account, which will reflect positively on their credit history.
By striving to maintain long term ethical lender-borrower relationships with their customers, Cash at Call is helping thousands of Australians improve their credit behaviours. If you are interested in learning more about responsible lending, contact the friendly financial experts at Cash at Call on 1300 726 787.

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