Document ID: chunk:federal_register_of_legislation:F2024C00882:schedule:1:p13
Version: federal_register_of_legislation:F2024C00882
Segment Type: schedule
Provision Reference: sch 1 (pt 13/40)
Character Range: 427220–429853

mortgaged property is goods—give the property back to your credit provider, together with a letter saying you want the credit provider to sell the property for you;
           * sell the property, but only if the credit provider gives permission first;
OR
           * give the property to someone who may then pay all amounts owing under the guarantee or give a similar guarantee, but only if the credit provider gives permission first.
  If the credit provider won't give permission, you may contact the AFCA scheme for help. You should understand that you may owe money to the credit provider even after the mortgaged property is sold.
  The AFCA scheme is a free service established to provide you with an independent mechanism to resolve specific complaints. The AFCA scheme can be contacted at [insert telephone number, email/website and postal address].

 14 Can the credit provider take or sell the mortgaged property?
  Yes, if you have not carried out all of your obligations under your guarantee.

 15 If the credit provider writes asking me where the mortgaged goods are, do I have to say where they are?
  Yes. You have 7 days after receiving the credit provider's request to tell the credit provider. If you do not have the goods you must give the credit provider all the information you have so they can be traced.

 16 When can the credit provider or its agent come into a residence to take possession of mortgaged goods?
  The credit provider can only do so if it has the court's approval or the written consent of the occupier which is given after the occupier is informed in writing of the relevant section in the National Credit Code.

 17 If the debtor defaults, do I get any warning that the credit provider wants to take action against the debtor?
  In most cases both you and the debtor get at least 30 days from the date of a notice in writing to do something about the matter. The notice must advise—
           * why the credit provider wants to take action; and
           * what can be done to stop it (if the default can be remedied); and
           * that if the same sort of default is committed within 30 days of the date of the notice and is not remedied within that period, the credit provider can take action without further notice.
  You should immediately discuss any warning notice with the debtor and consider getting independent legal advice and/or financial advice.
  However, there will be no warning notice if—
           * there is a good reason to think the debtor committed a fraud to persuade the credit provider to enter into the contract; or
           * the credit provider has been