This article presents the results of the first empirical study focused on older Australians in bankruptcy. Our study — based on the examination of a large and unique dataset obtained by the authors from the bankruptcy regulator — provides a valuable insight into the severe financial...

This article outlines the findings of Australia's first large-scale study on the experiences of people who have recently been unable to pay a debt when it fell due. The study builds upon empirical research on the causes and impacts of financial hardship in the United Kingdom and the United...

The Financial Ombudsman Service (FOS) was established in 2008 to resolve disputes between Australian consumers and financial service providers. This article outlines the role of FOS in resolving disputes under the statutory protections for Australians in financial hardship. This article also...

Special protections for Australians in financial hardship have recently been incorporated into the legal frameworks governing the consumer credit, energy, water and telecommunications sectors. These protections have the objective of enabling consumers to avoid the serious legal consequences of...

Financial hardship occurs where a consumer takes on payment obligations under a contract but then becomes unable to meet them when they fall due. The authors present the results of a survey of financial counsellors with the aim of drawing upon the extensive work experience of the counsellors to...

The Financial Hardship Project at Melbourne Law School is the first in-depth study of the practical operation of Australia's financial hardship laws, which are designed to protect consumers suffering from financial hardship, facilitate the performance of monetary obligations, and thus forestall...

Consumer leases are regulated in Australia separately from credit contracts. This has created opportunities for regulatory arbitrage and has resulted in significant harm to consumers. Recent reforms, which commenced on 1 March 2013, have addressed this problem by applying to consumer leases many...

Young people need have the skills and knowledge to make sound financial decisions now and as adults and to support them to engage confidently and successfully in economic life. They must navigate a much more complex financial landscape and assume greater financial responsibility at a younger age...

The Australian Securities and Investments Commission (ASIC) has stewarded the Australian National Financial Literacy Strategy since 2011. Financial literacy is increasingly recognised as an essential part of consumer protection, complementing traditional consumer protection mechanisms such as...

This paper examines the legal structure of securities lending in Australia, and also Europe, the United Kingdom and United States. It provides an analysis of the widely used industry documents, the Australian Master Securities Lending Agreement and the Global Master Securities Lending Agreement...