After been alerted by Four Corners, ASIC is investigating Good2Go Loans.

After been alerted by Four Corners, ASIC is investigating Good2Go Loans.

I-I did have somebody also come in plus they had numerous payday advances with other loan providers and it is clear they are, they will have a gambling problem because you will find gambling on line payments to their bank statements. Nevertheless, a loan is got by them. I have had individuals may be found in that are illiterate: where I have needed to suggest to them the letters to key in to publish, “We accept.” Illiterate. And yep, we nevertheless had written the mortgage. GOOD2GO LOANS EMPLOYEE (dramatisation): Hi, this will be Tracy calling from Good2Go Loans. Just just How are you currently?

STEPHEN LONG: In a annoying revelation, insiders told Four Corners that Good2Go regularly changes agreements once they’ve been finalized – and then we’ve seen proof of this.

It is a bait-and-switch: Good2Go signs people as much as two-year loan discounts that are not managed because of the Federal rules, hence sidestepping caps on costs. Then it delivers the consumer a text, outlining a payment plan that is new. SMS MESSAGE (caption): Dear Andrew Acceptance [sic] received. Funds will soon be settled inside the next 24hrs. Your instalments are $72 fortnightly with very very first re payment 03/02/2015. Any queries please call loans that are g2G.

GOOD2GO WHISTLEBLOWER (star): Well, the mortgage contract will state that the mortgage’s for 104 months. Ah, then again 99 percent regarding the time it doesn’t take place. Therefore after they email back saying, “we accept,” we change it out in it. Therefore we send them an SMS saying their loan repayment that is new quantity. And, you realize, they truly are hoodwinked. So they really might’ve finalized a contract stating that these people were planning to repay $7 or ten dollars a fortnight: we change it out to $72 a fortnight. Continue reading “After been alerted by Four Corners, ASIC is investigating Good2Go Loans.”