Under the NCCPA, it is compulsory for a holder of an Australian credit licence to be a member of an external dispute resolution (EDR) scheme.

The banking and finance sector has two industry-based dispute resolution schemes that provide forums for resolving complaints regarding credit products. There are no costs charged to a consumer for making a complaint to an ERD scheme. Rules differ between the schemes, but most focus upon providing an easily accessible method for unrepresented consumers to have their dispute fairly heard by a body which can deliver decisions that are binding upon the credit provider but not on the consumer.

Check to see whether the credit provider with whom you are dealing is a member of either of the two ASIC-approved schemes that cover credit disputes:

Under the Terms of Reference of the Financial Ombudsman Service (FOS) and the Rules of the Credit Ombudsman Service (COSL), once a dispute is lodged, a member must not:

Under the new national credit laws, VCAT no longer has jurisdiction regarding causes of action under the new NCC or its predecessor, the Consumer Credit (Victoria) Code. Rather, disputes arising in Victoria will have to be issued in either the Federal Court, the Federal Magistrates Court, or the Supreme, County or Magistrates' Courts of Victoria.

The new laws allow an applicant to elect certain applications under the NCC to be filed as "small claims proceedings", provided they are filed in the Magistrates' or Federal Magistrates Courts. Like the old regime in VCAT, small claims proceedings will be conducted in an informal manner, without regard to legal forms and technicalities, without lawyers (except with leave of the court) and will be subject to a presumption that legal costs are not awarded against unsuccessful parties.  

The details of the new national jurisdictional framework are set out at Division 2 of Part 4-3 of the NCCPA. Section 199 lists causes of action that may be brought within the small claims jurisdiction.