On 1 September 2018 the CIO scheme was transferred to the Australian Financial Complaints Authority (AFCA) as part of transition arrangements for AFCA commencing on 1 November 2018. From 1 September 2018 AFCA has been managing the CIO scheme.
As part of transition arrangements, any CIO complaint that is received prior to 1 November 2018 will be dealt with under the CIO Rules. From 1 November the AFCA scheme will commence and any disputes received by AFCA will be dealt with under the AFCA Rules.
For more information, visit the AFCA website.
The information outlined below is relevant for all complaints received by CIO prior to 1 November 2018. From 1 November 2018, AFCA will be dealing with all new financial services complaints.
If you have debt that you can’t pay such as a loan or lease payments, and you are in financial hardship, you have rights. Your financial services provider may help you but if you are not happy with their help, you can make a complaint to the Credit and Investments Ombudsman.
If you have a problem with your mortgage broker, lender, credit union, bank, financial planner, debt collector or other finance provider, you should contact them right away.
Most complaints can be solved quickly with a simple phone call or email.
If you are not happy with the response from your finance provider, you can make a complaint to the Credit and Investments Ombudsman.
We are a free, fair and impartial dispute resolution service for consumers and small businesses in the finance industry.
We investigate and resolve complaints.
We can investigate your complaint if the finance provider:
Here are a few examples:
You needed help with your loan payments because you lost your job or were ill, but your lender did not offer you any financial hardship assistance.
Making a complaint to us is easy. You can make a complaint online or send us a completed complaint form by email, fax or post.
If you need assistance in lodging a complaint, we can help you.
If you are speech or hearing impaired, you can contact us through the National Relay Service. Ask for the Australian Financial Complaints Authority at 1800 931 678.