NeedInstantCash.com acts honestly and with integrity and treats all borrowers fairly and reasonably. We will base our lending decisions on a careful and prudent assessment of a borrower’s financial position and capacity to repay a loan.

Our responsible approach to lending is based on (but not limited to) two key aspects of assessment to ensure credit is being provided responsibly. These are:
• assessing the suitability of a credit product for an individual and
• assessing a person’s capacity to repay the proposed credit debt.

Laws are designed to prohibit irresponsible lending by credit providers. It is illegal for a credit provider to extend credit to a borrower that is unsuitable to their needs and financial capacity. Generally, NIC will only lend amounts where we believe, on the information available to us, that the borrower can reasonably afford to repay the loan. We expect customers to provide honest and accurate information to us when applying for a loan or extension of a credit facility so that we are in a reasonable position to make these assessments.

Customers must be allowed to ‘opt-out’ of receiving unsolicited product offers in their dealings with NeedInstantCash.com. Given all financial institutions must be members of an alternative dispute resolution scheme with the powers to resolve disputes without redress to the courts.

Compliance with responsible lending practices requires an assessment and verification of a customers credit needs and financial circumstances. Where it is prudent to do so, NeedInstantCash will also undertake independent checks of information provided to the lender by it’s customer. This assessment will only be conducted when an individual makes a formal application for a loan.

When a loan application is being processed, the following factors apply:

• The highest standards of disclosure and procedural fairness will be adhered to. This will include:
• Explaining in simple terms the interest options that are available;
• Explaining how the interest is calculated and charged to the account;
• Explaining how to repay the debt in full;
• Explaining all fees and charges that apply to the loan.

• All loans and credit products must be based on a genuine assessment of the borrower’s needs, the suitability of the product to meet those needs, and demonstrated capacity to meet the repayments.

• No unsolicited pre-approved credit offers are to be made to customers.

• Information about assistance mechanisms for people facing financial hardship must be made easily available.

• Alternative Credit checks will be performed with Tele-Track and other issuing services to access risk. If there is a default listed on the borrower’s loan report, it must be paid prior to the funding of a loan to the borrower(s).