The corporate regulator ASIC has taken action against Motor Finance Wizard for loans and leases between 2010-2014 that breached responsible lending laws. An estimated 1500 customers are affected and up to $11 million dollars will be refunded or written off by Motor Finance Wizard.
Your clients could get significant sums of money back, so Consumer Action is recommending to keep an eye out for Motor Finance Wizard contracts.
If your client signed up to a Motor Finance Wizard loan or lease in this period, they should call Motor Finance Wizard on 13 22 75 to see if they are eligible for a refund.
If your client is unhappy with Motor Finance Wizard’s response, they can make a complaint to the Credit and Investments Ombudsman (www.cio.org.au).
For further information about Motor Finance Wizard refunds, you can visit https://www.moneysmart.gov.au/tools-and-resources/news/motor-finance-wizard-refunds