Victorian Consolidated Legislation

Credit Act 1984 - SECT 45

Statement for debtor or guarantor on request

45. Statement for debtor or guarantor on request



(1) Where a credit provider receives a request in writing for a statement
under this subsection, together with the prescribed fee (if any) from a debtor
under a credit sale contract or a loan contract or from a guarantor who has
entered into a contract of guarantee with the credit provider in respect of
the obligations of the debtor under a credit sale contract or a loan contract,
the credit provider shall within fourteen days after receiving the request
give to the debtor or guarantor who made the request a statement in writing
showing-

   (a)  each amount received under the contract by the credit provider and the
        date on which it was received;

   (b)  each amount due under the contract and payable to the credit provider
        that has not been received by the credit provider and the date on
        which it became due; and

   (c)  each amount payable under the contract to the credit provider that has
        not become due and the date on which it becomes due.

Penalty: 10 penalty units.

(2) A credit provider is not required to comply with a request under
subsection (1) from a debtor under a credit sale contract or a loan contract
or from a guarantor who has entered into a contract or guarantee, if, within
the period of three months immediately preceding the receipt of the request,
he has complied with an earlier request from that debtor or guarantor in
relation to the credit sale contract, loan contract or contract of guarantee.