Victorian Consolidated Legislation

Credit Act 1984 - SECT 75

Unauthorized fees

75. Unauthorized fees



(1) An agreement entered into by a credit provider whereby a debtor agrees to
pay to, or on behalf of, the credit provider any costs, fees or charges
incidental to, or relating to-

   (a)  the provision of credit under a regulated contract;

   (b)  guaranteeing or securing repayment of any such credit; or





   (c)  negotiations for the provision of any such credit or for guaranteeing
        or securing repayment of any such credit-

(other than costs, fees or charges permitted by this Act to be included as
part of the amount financed under a regulated credit sale contract or a
regulated loan contract or as part of the amount owing under a regulated
continuing credit contract) is void.

(2) Any amount that, notwithstanding subsection (1), is paid by a debtor to a
credit provider in accordance with an agreement referred to in subsection (1)
is recoverable by the debtor from the credit provider as a debt.

(3) A credit provider shall not enter into an agreement that, by reason of
subsection (1), is void.

Penalty applying to this subsection: 20 penalty units.