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The way in which lenders of bad credit payday loans in Australia are allowed to advertise their loans is set and controlled by the Regulatory Guide 234 which is managed and administered by the Australian Securities and Investments Commission (ASIC). When lenders are comparing loans in an advertisement, these loans should have sufficiently similar features to make the comparison relevant and not misleading. Where only one particular feature of a loan is highlighted, a comparison may be misleading if it ignores other key features. Where a comparison is made showing differences in outcome over time, it is important to ensure not only that the differences are accurate and relevant but also that they will remain consistent for a reasonable period of time. Where a comparison by lenders of bad credit payday loans in Australia has been made over a short period, any limitations of such a comparison should be clearly disclosed. When comparing the performance of an investment with a loan or a benchmark or investment that is different in terms of investment objectives, fees, types of investments made, or countries or markets covered, the differences should be clearly disclosed. However, disclosure may not always be sufficient to correct any misleading impression if the comparison is simply inappropriate and unreasonable. Any comparison of benefits and returns should be accurate and balanced and have a reasonable basis. The facts on which any comparison or contrast of returns is based should be verified and any relevant assumptions disclosed. Lenders of bad credit payday loans in Australia should realise that an advertisement should not present a comparison in a way that would create a misleading impression of the loan. In particular, the use of strong terms such as high and low to compare particular benefits may be misleading if these kinds of benefits are only likely to occur if certain conditions are in place and this is not explained. Without proper disclosure, an advertisement should not claim that a borrower is able to achieve a high level of saving by switching from another loan granted by another loan lender if, in fact, the average amount saved is actually low, like if the high level of saving could only be obtained if a borrower was currently with an unusually expensive loan lender. It is also important for all borrowers to understand all the rules and regulations set out in the guide so that they know their legal rights when it comes to applying for bad credit loans in Australia. Visit Bad Credit Payday Loans Australia to apply for online bad credit payday loans in Australia.
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