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Direct Debit Terms and Conditions

1. INITIAL TERMS

Mortgage Miser will debit your nominated account for the amounts and at the frequency of payments as agreed between us on the Mortgage Miser DDR Contract authorised and accepted by you the Customer.

2. CHANGE OF TERMS

In the unlikely event that the initial terms are to change, they can only do so in accordance with your Contract and we must give you at least 14 days’ notice of the changes including if applicable the new amount, new frequency and next debit date.

3. DEFERRING OR STOPPING A PAYMENT

Should you wish to defer a payment to another date you must contact Mortgage Miser before the date of that payment to request the deferment. Deferments are entirely at the discretion of

Mortgage Miser and will depend on the length of deferment, the current state of your account and your past history. You may request us to stop an individual payment however you will still be liable to make this payment by some other method or your account will become overdue

4. ALTERING THE SCHEDULE

Should you wish to alter the payment frequency or Day to Debit please contact Mortgage Miser and at our discretion in most instances we will make the changes you have requested. Any changes made will not affect the total amount you would otherwise have paid over the minimum term of your Contract.

5. SUSPENDING THE PAYMENTS

Suspension of payments may be possible under the terms of your Membership Agreement.

Payments may be suspended for a minimum of 2 weeks at a time so long as the total time suspended within the minimum term does not exceed 6 weeks. In order to suspend payments, you should contact Mortgage Miser at least 3 business days prior to the date of the first suspended payment. Any time spent on suspension will be added to the minimum term of the Contract so that the sum of the instalments payable for the minimum term or number of payments shall still be payable regardless of any suspension or suspension charges.

6. CANCELLING THE PAYMENTS

You can cancel this Direct Debit Request Service Agreement at any time by contacting Mortgage Miser or your bank. Cancellation of the DDR Service Agreement will not terminate this Contract however or remove your liability or obligation under the Contract to make the payments you agreed to.

7. DISPUTES

If you dispute any debit payment, you must notify Mortgage Miser immediately. Mortgage Miser will respond to your dispute within 7 working days and will immediately refund the amount of the debit if we are not able to substantiate the reason for it. If you do not receive a satisfactory response from us to your dispute contact your financial institution who will respond to you with an answer to your claim within 5 business days if your claim is lodged within 12 months of the disputed drawing, or within 30 business days if your claim is lodged after 12 months from the disputed drawing.

8. NON WORKING DAY

When the day to debit falls on a weekend or public holiday the debit will be initiated on the next working day.

9. DISHONOURED PAYMENTS

It is your responsibility to ensure that on the due date clear funds are available in your nominated account to meet the direct debit payment. Should your payment be dishonoured Mortgage Miser will debit you an additional $10 with your next payment and may, if we have not received instructions to the contrary from you, debit both the current due payment and the now overdue payment(s) on the same day. Mortgage Miser may debit other fees or costs involved with debt collection in accordance with the terms and conditions of the Contract (refer to clause 9 Credit/Debt Reporting Agencies).

10. ENQUIRIES

All enquiries should be directed to Mortgage Miser at 1300 546 316 initially followed by an email to office@mortgagemiser.com.au the same day. Please allow at least two (2) working days for a response.

11. YOUR OTHER RESPONSIBILITIES

In addition to the above Terms and Conditions, it is your responsibility to ensure your nominated bank account can accommodate a Direct Debit arrangement. If not, it is your responsibility to provide Mortgage Miser with an account that does as soon as practicable along with the new BSB and account number.

Copyright © 2015 by Mortgage Miser Pty Ltd

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Mortgage Miser Pty Ltd
5a Hartnett Close
Mulgrave, Vic 3170

www.mortgagemiser.com.au