Dispute Resolution
Lifestyle Loans is committed to providing our clients with exceptional service, however we recognise that from time to time dissatisfied clients may wish to exercise their right to complain about a product and/or service.
In such circumstances we strive to provide the client with a prompt response and solution to their complaint. Clients that wish to make a complaint can do so in writing by using our Complaints Form which is found within our website downloads.
Lifestyle Loans has an Internal Dispute Resolution Procedure which we undertake in resolving any complaints received. The IDR Procedure is detailed in the below table and will be used should a complaint arise before escalation.
In the event that the matter cannot be resolved via our IDR Policy and Procedures a client may wish to take their complaint to the Australian Financial Complaints Authority (ACFA) who act as our External Dispute Resolution Process.
| Stage | Action | By Whom | Timeframe |
| Receive Complaint | We will attempt to resolve the complaint direct with the client upon receipt of the Complaint. | Staff member or credit representative who receives the complaint | Day after initial complaint received |
| If Complaint is not Resolved | If the Complaint is not resolved by the staff member involved the matter will be referred to our Complaints Contact Person and/ or the Deputy. | Staff member or credit representative who receives the complaint | Day after initial complaint received |
| Acknowledge Complaint | We will acknowledge the complaint in writing, advising what is being done about it and requesting further information if necessary. We will also inform the client about the options available to them. | Complaints Contact Person (or Deputy) | Within 2 days after initial complaint received |
| Investigate Complaint and Resolve Complaint | Our Complaints Contact Person (or Deputy) will investigate the Complaint and look to resolve the matter as soon as possible, but no later than 45 days after initial receipt. | Complaints Contact Person (or Deputy) | Within 45 days after initial receipt. |
| If Complaint cannot be Resolved | If the complaint cannot be resolved to the satisfaction of the client we will provide a substantial response in writing and give reasons for the decision.We will advise the client about their right to take their complaint or dispute to our external dispute resolution scheme and will provide the name and contact details of our external dispute resolution scheme. | Complaints Contact Person (or Deputy) | As soon as possible, but within 45 days after initial receipt |
Lifestyle Loans’ Australian Financial Complaints Authority (ACFA) Membership Number: 400700. COSL’s contact details are found here.